Reach plc shares rose by more than 7% to 58.2p today after the newspaper and digital publisher said it expects to deliver full-year results ahead of current market expectations.
The company, which is headquartered in Canary Wharf, has been helped by the resilience of its print business and continued cost control.
It expects digital revenues for the year to be 1% lower than last year’s figure of £130 million, after being hit by a “material reduction” in Google referral volumes and ongoing “macroeconomic weakness”.
Despite the pressure on online traffic, Reach highlighted strategic progress during the period, including the launch of digital subscriptions, expanded video output and growth in off-platform audiences.
It expects adjusted operating profit of £99.1m for the year – slightly below the £102.3m it stood at for FY24.
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Chief executive Piers North (pictured) said: “During the period we made significant strategic progress, notably launching digital subscriptions, expanding video output and growing our off-platform audiences.
“We look forward to the year ahead and thank our teams for their efforts in delivering this year’s results.”
North, who was previously chief revenue officer, was appointed chief executive in March 2025 following the departure of Jim Mullen, who left to take a role at The Jockey Club.
The financial update comes after a major restructuring at the company’s editorial operation, with the group announcing plans in September to cut 321 roles as part of a reorganisation designed to support a live news network and an expanded audio and video offering.
Around 600 jobs were placed at risk, alongside the creation of 135 new roles in areas including live news, audience, sport and content operations.
The firm’s share price has pushed up today despite a downfall in the last 12 months, in which period it has fallen by 33%.
Reach currently has a market cap of £184m and will publish its full-year results for the year ended 31st December 2025 on 3rd March.
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