Progress on integration
Print revenue plunges as Reach hits savings targets
Simon Fox: pleased with progress (pic: Terry Murden)
The owner of the Daily Record and Daily Mirror said print advertising revenue continues to fall sharply as it makes progress on integrating the Express titles.
Reach, formerly known as Trinity Mirror, has reported a rise in third quarter revenues, helped by its acquisition of the Daily Express and Star. Savings of £2m will be achieved this year.
Reach said revenues were up 21%, although like-for-like revenues fell 7%. Print advertising revenue fell 20%, while publishing digital revenues grew 7%.
Chief executive Simon Fox said: “I am pleased with the progress being made on the integration of Express & Star and remain confident that we will deliver at least £20m of annual synergy savings by 2020.
“Our continued focus on tightly managing costs and driving digital revenue continues to provide confidence that performance for the year will be in line with market expectations.”