Business
Half-Yearly Financial Report
Half-Yearly Financial Report.
About this update from Reach Plc
[{"type":"text","content":"\n \nRNS Number : 1222W Reach PLC 30 July 2018 \n\nReach plc\n \n 30 July 2018\nHalf-Yearly Financial Report\nFor the 26 weeks ended 1 July 2018\n\n\n\nResults\n\n\n Adjusted results (1)\n\n\n Statutory results\n\n\n\n\n\n\n\n2018\n\n\n2017\n\n\n2018\n\n\n2017\n\n\n\n\n\n\n\n£m\n\n\n£m\n\n\n£m\n\n\n£m\n\n\n\n\nRevenue\n\n\n353.8\n\n\n320.0\n\n\n353.8\n\n\n320.0\n\n\n\n\nOperating profit/(loss)\n\n\n66.5\n\n\n62.6\n\n\n(107.3)\n\n\n47.3\n\n\n\n\nProfit/(loss) before tax\n\n\n64.7\n\n\n61.3\n\n\n(113.5)\n\n\n38.2\n\n\n\n\nEarnings/(loss) per share\n\n\n18.2p\n\n\n17.9p\n\n\n(39.4)p\n\n\n10.6p\n\n\n\n\nDividends per share\n\n\n-\n\n\n-\n\n\n2.37p\n\n\n2.25p\n\n\n\nKey Highlights\n· Positive profit performance which benefited from the acquisition of Express & Star\nGroup revenue increased by 10.6% to £353.8 million reflecting the acquisition of Express & Star on 28 February 2018. On a like for like (2) basis revenue fell by 7.2%. Although like for like Publishing print revenue fell by 9.3% we delivered growth in like for like Publishing digital revenue of 6.0% with digital display and transactional revenue growing by 11.5% partially offset by a fall in digital classified revenue of 19.8%. Adjusted operating profit increased by 6.2% to £66.5 million.\n· Statutory performance impacted by non-cash impairment charge\nStatutory operating loss of £107.3 million reflects the impact of a non-cash impairment charge of £150.0 million as a result of more challenging than expected outlook for our regional businesses.\n· Structural cost savings of £9 million and synergy cost savings remain on track\nWe delivered structural co...