(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)
