UK's Reach surges on upbeat annual profit outlook
20/01/2025 09:02
** Shares of Reach RCH.L jump 18.8% to 85.5p; top pct
gainer on the FTSE small-cap index .FTSC which is up 0.8%
** The Daily Mirror and Daily Express publisher says it
expects estimates fiscal 2024 operating profit to beat market
expectations
** Analysts expect co to post adjusted operating profit of
97.8 mln pounds ($119.3 mln) for the year ended Dec. 31, 2024,
according to company-compiled consensus
** Estimates providing additional 5 mln pounds in funding to
the West Ferry Printers Pension Scheme in 2025, after finding a
historical error related to the scheme
** "The company had already flagged it was doing well in its
last update and so we expect it to have outperformed for the
full year and build in just over £2m extra savings" - analysts
at Panmure Liberum
** The stock rose 11.2% in 2024
($1 = 0.8197 pounds)
(Reporting by Raechel Thankam Job)
((RaechelThankam.Job@thomsonreuters.com;))