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Reach (RCH) investor relations material
Reach Q3 2025 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Digital revenue grew 2.1% year-over-year in Q3, with indirect revenues up 4.0% and direct revenues down 0.8%.
Print circulation remains stable, with advertising revenue outperforming circulation volume declines.
Group restructuring aims to accelerate growth, focusing on video production, new commercial propositions, and off-platform audience growth.
Estimated full-year restructuring cost is approximately £20m.
Financial highlights
Group revenue: Digital revenue up 2.1% in Q3; indirect revenue up 4.0%; direct revenue down 0.8% year-over-year.
Print advertising revenue continues to perform above circulation volume declines.
Page views fell 1% over the nine-month period due to lower digital referral volumes, especially from Google.
Outlook and guidance
Confident in delivering full-year market expectations, with profit underpinned by resilient print and cost management.
On track to achieve 4-5% cost saving target for the year.
Full-year digital revenues expected to be broadly flat year-over-year due to ongoing volatility in referral volumes and weak macroeconomic conditions.
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