Company
LON:RCH
Reach, formerly known as Trinity Mirror, publishes many national and regional titles including the Daily Mirror, Sunday Mirror, Sunday Express, the Daily Star Sunday, as well as celebrity magazines New! and Star.
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The consensus among City analysts is that Reach will turn a pre-tax profit of between £132.1-133.9mln in 2018, and Reach told investors that it fully expects to meet that
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The firm, formerly known as Trinity Mirror, reported a pre-tax loss for the period of £113.5mln from a £38.2mln profit in the same period a year ago
FTSE 100 closed down 0.46 points, or 0.01% at 7,700 on Monday
The City broker also chopped its target price for the FTSE SmallCap firm back to 200p from 300p, with the shares currently trading at 185p each, down nearly 12% on Friday’s close
The convenience store chain was hit hard by the collapse of Palmer & Harvey, which supplied more than half of its stores with cigarettes, food and drink
The media group said it expected revenue for the 2018 financial year to grow by 11% year-on-year as a result of the acquisition of the Daily Express and Daily Star
FTSE 100 closed around 21 points higher on Friday at 7,636, the FTSE 250 added nearly 147 points at 20,830.
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As the week comes to an end, trading updates will be drawing eyes on the company news front while the UK's final Q1 GDP reading will play second fiddle to April's Index of Services
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Aside from Whitbread, updates are also due in the week ahead from cruises operator Carnival, packaging firm Bunzl, struggling floorings retailer Carpetright, and pubs operator Greene King
Ofcom had asked competition regulators to take a closer look at the £127mln merger, but the CMA told media and culture secretary Matt Hancock that it was happy with the deal
