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 readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 20, 2025
1 min readLast updated: January 27, 2026
Reach Plc anticipates its 2024 operating profit to surpass market expectations, aided by cost-cutting and a strong fourth quarter.
(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)
The main topic is Reach Plc's forecast of its 2024 operating profit exceeding market expectations.
Analysts estimate the adjusted operating profit for 2024 at 97.8 million pounds.
Cost-cutting measures and a strong fourth quarter contributed to the profit increase.
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