Jan 8, 2021

Reach expects profits to top forecasts as online sales surge

Reach, the publisher of the Daily Mirror and Daily Express newspapers, expects profits to beat expectations after a surge in online revenues, sending shares in the group up 25 per cent on Friday. Online revenues grew 25 per cent in the fourth quarter, up from 13 per cent in the third, Reach said in a statement. Revenues from its newspapers remain critical, and circulation of its titles fell 12 per cent in the fourth quarter. Overall revenues for the group in the quarter dropped 10 per cent from a year ago. Shares in Reach surged 25 per cent to 221p, their highest level in more than a decade.

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