Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Reach plc    TNI   GB0009039941

REACH PLC

(TNI)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Reach : Daily Mirror owner predicts 'significant' hit this year from shutdowns

05/07/2020 | 04:38am EST

Daily Mirror-owner Reach Plc on Thursday forecast a big hit to annual revenue as newspaper circulation as well as ad and digital sales were hammered in April by Britain's move to impose a strict lockdown.

The company, which also owns the Daily Star, the Daily Express and several other brands, said it had seen an estimated 30% slump in April sales from a year earlier.

"While in some areas we have recently seen a stabilisation in trends, circulation remains significantly below pre-COVID-19 levels and advertising remains very challenging and uncertain, with regional advertising particularly impacted," Reach said.

The company said last month it would furlough 20% of its staff, cut wages by 10% and management pay by 20% as it tries to keep its regional and national titles operating during the pandemic.

It had also warned that the uncertainty around the severity and duration of the crisis casts a shadow on the impact of print circulation, advertising and events.

The company said it had net cash of 33.2 million pounds after cutting costs and drawing down 25 million pounds.

In the four months to April 26, r
evenue fell 13.1%, despite a 4.7% growth in digital sales for the period. (https://reut.rs/3dpWhpG)

However, digital revenue for April, which represents a full month of impact from the nationwide lockdown, dropped nearly 23%.

(Reporting by Pushkala Aripaka and Yadarisa Shabong in Bengaluru; Editing by Anil D'Silva)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
NEXT PLC 0.73% 8018 Delayed Quote.13.15%
REACH PLC -4.23% 190.2 Delayed Quote.33.01%
All news about REACH PLC
01/08REACH : Surges 25% as Operating Profit Expected to Exceed Market Expectations
MT
2020REACH : Digital growth during pandemic bolsters Reach Plc's 2020 performance, sh..
RE
2020Reach Stock Rises 10% as Performance Beats Market Expectations
MT
2020Investors, consultants eye returns from underwater UK final salary pension sc..
RE
2020REACH PLC : BONUS ISSUE: 1 new share for 23.379999 existing shares
FA
2020READLY INTERNATIONAL : expands its portfolio of UK newspapers with Reach plc add..
AQ
2020READLY INTERNATIONAL : expands its portfolio of UK newspapers with Reach plc add..
AQ
2020Digital ad demand bounces back for Daily Mirror publisher Reach
RE
2020REACH : Daily Mirror publisher Reach sees digital revenue recover in Q3
RE
2020PHOENIX51 : A New Tech Platform for Remote Hiring & Onboarding
AQ
More news
Financials
Sales 2020 597 M 811 M 811 M
Net income 2020 74,2 M 101 M 101 M
Net cash 2020 42,1 M 57,2 M 57,2 M
P/E ratio 2020 8,16x
Yield 2020 2,47%
Capitalization 589 M 801 M 801 M
EV / Sales 2020 0,92x
EV / Sales 2021 0,93x
Nbr of Employees 4 573
Free-Float 87,6%
Chart REACH PLC
Duration : Period :
Reach plc Technical Analysis Chart | TNI | GB0009039941 | MarketScreener
Technical analysis trends REACH PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Average target price 239,25 GBX
Last Close Price 191,00 GBX
Spread / Highest target 84,3%
Spread / Average Target 25,3%
Spread / Lowest Target -5,76%
EPS Revisions
Managers and Directors
NameTitle
Jim Mullen Chief Executive Officer & Executive Director
Nicholas Edward Tucker Prettejohn Chairman
Simon Jeremy Ian Fuller Chief Financial Officer & Executive Director
Helen C. Stevenson Senior Independent Non-Executive Director
David Thomas Kelly Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
REACH PLC33.01%801
NEWS CORPORATION4.06%10 974
INFORMA PLC-2.19%10 959
SCHIBSTED ASA-10.59%8 274
THE NEW YORK TIMES COMPANY-5.14%8 197
CHINA LITERATURE LIMITED-11.50%7 055