Reach plc (LSE:RCH) reported a mixed trading performance for the third quarter of 2025, with digital revenue rising 2.1% year-on-year. This growth came despite pressure on direct revenue streams, while indirect digital revenue increased by 4.0%. Print revenue continued to soften, though circulation levels held steady, providing some stability to overall results.
The company has initiated a major strategic restructuring aimed at accelerating growth in priority areas such as video content production and off-platform audience expansion. The restructuring program carries an estimated cost of £20 million. While volatility in digital referral volumes and a challenging macroeconomic environment remain headwinds, Reach remains on track to meet its full-year expectations, supported by cost discipline and the resilience of its print operations.
The outlook reflects a careful balance of strengths and risks. On the positive side, Reach’s low P/E ratio and attractive dividend yield make it appealing from a valuation standpoint, and its strong balance sheet provides financial flexibility. However, continued revenue declines and bearish technical indicators signal challenges that will need to be addressed to sustain future growth.
About Reach plc
Reach plc is the largest commercial news publisher in the UK and Ireland, engaging audiences through more than 120 media brands. Its portfolio includes national titles such as Daily Mirror, Daily Express, Daily Record, and Daily Star, alongside regional outlets like MyLondon and Belfast Live. The company also has an expanding footprint in the US through brands including Irish Star, reaching around 70% of the UK online population and 10% of the US population each month.
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