Updates

Reach - Trading ahead of expectations

March 2026

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares jumped after Reach said it now expects to deliver operating profit ahead of consensus expectations (£99.1m) driven by a better than expected Print performance and cost savings. Panmure Liberum has nudged up its 2025 group revenue estimate, lifted EBIT by 4.1% to £102.7m and set new EPS of 23.7p. The Digital business continued to feel the referral traffic impact in Q4 due to Google’s shifting algorithms, and this did not help given the strong comps. On the strategy front, Digital subscription services have been launched for three titles so far (Manchester Evening News, Liverpool Echo and WalesOnline). Panmure has adjusted its costs lower to reflect the 2025 performance and its assumption that management will pro ...

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Babcock

Reach (April 2026)

Reach (September 2025)

Reach - Trading ahead of expectations (April 2025)

Reach - Full year results ahead of expectations (March 2025)

Reach - Deutsche says “forecast risk firmly to the upside” (December 2024)

Reach - Operating margins soar 4% to 16.8% (September 2024)

Reach (June 2024)

Reach - Shares bounce 22% after results (April 2024)

Reach (December 2023)

Reach (September 2023)

Reach - Comparables to get easier in H2 (June 2023)

Reach - Data driven revenues up 56% (April 2023)

Reach (February 2023)

Reach - Q3 shows impressive print sales resilience (November 2022)

Reach - Plus products now over 30% of Digital (September 2022)

Reach - CEO and chairman buy shares (June 2022)

Reach - High margin digital side could be 50% turnover by FY’25 (April 2022)

Reach - Recruits another 400 writers (January 2022)

Reach - Gain in two months: 69%! (September 2021)

Reach - Direct advertising set for exponential growth; DIRT CHEAP on PE of 6.5 (July 2021)

Reach - Newspaper group could double profits through digital advertising explosion (February 2021)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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