Reach PLC (LSE: RCH)

Reach PLC (LSE: RCH) is an FTSE All-Share listed entity and the largest commercial news publisher across UK & Ireland and home to more than 130 trusted brands.

FY22 Financial Highlights (for the year ended 31 December 2022, released on 8 March 2023)

• Marginal Decline in Revenue: The group reported a slight decline of 2.3% in the revenue to GBP 601.4 mn as compared to GBP 615.8 mn in FY21. The print sales were down by 3.5%, slightly offset by a 1% increase in revenue from the digital segment.
• Decline in Profitability: The adjusted operating profit stood at GBP 106.1 mn, which is down by 27.4% or GBP 40.0 mn in FY22, primarily due to lower revenue and 5.3% increase in operating costs. The costs were major increased due to inflationary pressure, resulting in a 40% increase in the cost of newsprint during FY22.
• Dividend Payments: The management announced a final dividend of 4.46 pence per share for FY22, whereas the interim dividend was 2.88 pence per share, bringing up the total dividend of 7.34 pence per share for FY22, which is 1.8% higher as compared to FY21.
• Trading Update & FY23 Outlook: The trading during the month of January and February in FY23, was as per the expectations where a dip in digital advertising demand was observed. The management is optimistic to deliver 5% to 6% cost curtailment in FY23 on account of the cost action plan implemented.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Reach PLC  was trading at the closing price of GBX 82.80 (as of 9 March 2023).

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 9 March 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

Note 4: Dividend Yield may vary as per the stock price movement.

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