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    Home > Finance > Daily Mirror-publisher Reach sees annual profit ahead of market view
    Finance

    Daily Mirror-publisher Reach sees annual profit ahead of market view

    Published by Global Banking & Finance Review®

    Posted on January 20, 2025

    1 min read

    Last updated: January 27, 2026

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    Quick Summary

    Reach Plc anticipates its 2024 operating profit to surpass market expectations, aided by cost-cutting and a strong fourth quarter.

    Reach Plc Projects 2024 Profit to Surpass Market Expectations

    (Reuters) -Reach Plc, the publisher of the Daily Mirror, said on Monday it estimates fiscal 2024 operating profit to beat market expectations, helped by a strong fourth quarter.

    Analysts on average see the adjusted operating profit for the year ended Dec. 31, 2024, at 97.8 million pounds ($119.4 million), according to company-compiled estimates. The company had reported a profit of 96.5 million pounds in fiscal 2023.

    The publisher of Daily Express, a few regional titles and associated websites had cut costs to improve its margins, leading to a 23% jump in 2024's first-half operating profit.

    The company also said it will provide an additional 5 million pound funding this year to the West Ferry Printers Pension Scheme - inherited in the 2018 acquisition of Express Newspapers - after finding a historical error related to the scheme.

    ($1 = 0.8192 pounds)

    (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Savio D'Souza and Sumana Nandy)

    Key Takeaways

    • •Reach Plc forecasts 2024 profit to exceed expectations.
    • •Analysts estimate 2024 profit at 97.8 million pounds.
    • •Cost-cutting measures improved profit margins.
    • •23% increase in first-half operating profit for 2024.
    • •Additional funding for West Ferry Printers Pension Scheme.

    Frequently Asked Questions about Daily Mirror-publisher Reach sees annual profit ahead of market view

    1What is the main topic?

    The main topic is Reach Plc's forecast of its 2024 operating profit exceeding market expectations.

    2How much profit is expected for 2024?

    Analysts estimate the adjusted operating profit for 2024 at 97.8 million pounds.

    3What measures contributed to the profit increase?

    Cost-cutting measures and a strong fourth quarter contributed to the profit increase.

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