Reach plc, which owns news brands including the Daily Record, the Daily Star, AberdeenLive and the Mirror, is set to post an operating profit of more than £99million for FY25.
The media giant attributes the profit - which is ahead of current market expectations - to strategic progress, resilient print business and continued cost controls.
Ahead of the full results being published at the beginning of March, Reach this morning shared a trading update revealing the company "expects to deliver ahead of current market expectations for the full year".
Market expectations compiled by the company are an average of analyst published forecasts - consensus adjusted operating profit for FY25 is £99.1million.
That comes despite digital revenue for 2025 being 1% lower than 2024 (£130million) due to a "material reduction in Google referral volumes, alongside continued macroeconomic weakness".
Piers North, Reach chief executive, said: "During the period we made significant strategic progress, notably launching digital subscriptions, expanding video output and growing our off-platform audiences.
"We look forward to the year ahead and thank our teams for their efforts in delivering this year's results."
FTSE100
The UK's flagship share index, the FTSE 100, was down 104 points at 10,115 shortly after opening this morning.
Brent crude oil futures were down 0.78% at $63.60 a barrel.
Companies reporting
- 4imprint Group - Full Year Trading Statement
- Kier Group - Half Year Results
- Netflix* - Q4 Results
- QinetiQ Group - Q3 Trading Statement