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

REACH PLC

(TNI)
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Reach : Digital growth during pandemic bolsters Reach Plc's 2020 performance, shares soar

11/27/2020 | 03:44am EST

(Reuters) - Daily Mirror publisher Reach Plc said on Friday its performance for the current fiscal year was above market expectations, while adding that it had launched consultations on restructuring that would close two of its six printing sites.

Shares in the company were the top gainers on the FTSE all-share index by 0811 GMT with a 9.2% jump.

The London-based company reported a 16.2% jump in digital revenue for five months to Nov. 22, saying it expects the strong digital growth and a resilient circulation to continue into December.

Visitors to Reach's websites in the UK last month was north of 42 million, which is roughly two-third of the country's population.

A move to online sources of news has been further stimulated by coronavirus restrictions this year, with curbs on movements making it difficult to circulate newspapers.

Reach announced plans to cut 550 jobs in July, after reporting a near 30% slump in print revenue for the second quarter.

The company said its customer registrations have now surpassed 4.25 million, leaving it on track to meet the 10 million it is targeting by the end of 2022.

(Reporting by Muvija M in Bengaluru; Editing by Rashmi Aich)


© Reuters 2020
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Financials
Sales 2020 597 M 817 M 817 M
Net income 2020 74,2 M 102 M 102 M
Net cash 2020 42,1 M 57,6 M 57,6 M
P/E ratio 2020 8,50x
Yield 2020 2,37%
Capitalization 614 M 839 M 840 M
EV / Sales 2020 0,96x
EV / Sales 2021 0,97x
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 199,00 GBX
Spread / Highest target 76,9%
Spread / Average Target 20,2%
Spread / Lowest Target -9,55%
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
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