Published by Global Banking & Finance Review®
Posted on March 4, 2025
1 min readLast updated: January 25, 2026
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Reach beats 2024 profit estimates due to digital growth and major events, forecasting stable 2025 profits.
(Reuters) - Daily Mirror-publisher Reach reported better-than-expected 2024 annual profit on Tuesday, helped by Taylor Swift's Eras tour and the European football championship among other events, and higher yield from targeted advertising.
The company, with a catalogue of more than 120 print and online titles, has cut costs and prioritised its digital business as traditional print publications struggle.
It supplemented its digital revenue stream through targeted advertising based on customer data.
The adjusted operating earnings came in at 102.3 million pounds ($129.9 million) for the year ended December 31, 2024, beating a company-compiled consensus of 97.8 million pounds.
The company forecast fiscal 2025 adjusted operating profit in line with consensus estimates of 99.3 million pounds.
($1 = 0.7873 pounds)
(Reporting by Shashwat Awasthi; Editing by Sumana Nandy)
The article discusses Reach's better-than-expected 2024 profit results, driven by digital revenue and major events.
Reach achieved higher profits through digital revenue growth, targeted advertising, and cost-cutting measures.
Reach forecasts its 2025 adjusted operating profit to align with consensus estimates of 99.3 million pounds.
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