IN BRIEF: Reach to meet 2025 view as cost cuts outpace revenue decline

Reach PLC - London-based publisher of Daily Mirror and Express newspapers - Revenue declines 2.5% on-year in the third quarter of 2025. Print revenue alone falls 3.9%, including a 13% fall in advertising revenue. More positively, digital revenue rises 2.1% in the quarter. For the nine months to September 30, group revenue is down 3.1%, composed of a 4.5% fall in print revenue and a 1.9% rise in digital. Within print, advertising revenue is down 15% so far this year, but circulation revenue down just 3.4%. There is a similar divide in digital revenue, with direct revenue down 5.5% but indirect revenue up 7.3%. Indirect revenue includes money made off-platform on social media. Reach says it expects digital revenue to be broadly flat for all of 2025, and it expects to deliver on its 4% to 5% cost savings target. As a result, Reach says it is confident in meeting 2025 market consensus of adjusted operating profit of £99.1 million. This would be down slightly from £102.3 million in 2024. Reach will release its 2025 results on March 3.

Current stock price: 62.79 pence, down 2.5% in London on Tuesday

12-month change: down 33%

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