Daily Mirror publisher Reach posts 27% drop in profit
Reach (RCH.L), the British publisher of the newspapers including the Daily Mirror and regional titles, posted a 27% drop in annual profit after inflation caused its operating costs to rise by 40 million pounds and demand for advertising weakened.
The group on Tuesday reported adjusted operating profit of 106.1 million pounds ($127.9 million) for 2022 on revenue of 601.4 million pounds, down 2.3% on the previous year.
($1 = 0.8294 pounds)
($1 = 0.8294 pounds)
