Strategy Update and 2019 Results Presentation

RNS Number : 8219D

Reach PLC

24 February 2020

 

Reach plc

 

24 February 2020

Reach plc

Strategy Update and 2019 Results Presentation

 

Reach plc ('Reach', 'the Company', 'the Group'), the largest commercial national and regional news publisher in the UK, is today making a presentation to analysts and institutional investors.

Jim Mullen, Chief Executive Officer, and Simon Fuller, Chief Financial Officer and Company Secretary, will be joined by a number of the Company's senior management team to provide an update on the strategic plans for long-term value creation.

The Group's growth strategy will ensure that through capturing customer insight and data, Reach continues to build an intelligent and relevant content business for the long term, ensuring a sustainable future for its trusted brands.

The Group is targeting having 7m registered customers by the end of 2022 versus less than 1m at the end of 2019. At the 2020 interims the Group plans to give an update on key monetisation themes, with an overall digital revenue target and timeline expected to be announced with the 2020 year end financial results.

The customer value strategy being unveiled is centred on building an intelligent, relevant and trusted content business for the long term. Key pillars of the customer value strategy are:

· Increased customer engagement - improved customer experience, deepening customer relationships

· A single view of the customer - a unified view of the customer across Reach

· Revenue diversification and growth - innovation to grow and diversify our revenue base

· Harnessing talent and teams -a customer-centric culture underpinned by data

In addition to the strategic update, the presentation will include a review of the 2019 full-year results.

No new material financial information will be provided.

Agenda

· Welcome - Nick Prettejohn, Chairman

· 2019 Highlights - Jim Mullen, CEO

· 2019 Financial update - Simon Fuller, CFO

· Our customer value strategy - Jim Mullen, CEO

· The time is now and measures of success - Simon Fuller, CFO

· Content … it's what we do - Lloyd Embley, Group Editor-in-Chief

· In summary - Jim Mullen, CEO

Event details

The presentation will be held at Numis Securities, London Stock Exchange building, 10 Paternoster Square, London, EC4M 7LT, starting at 10.30am and lasting approximately two hours. Registration and refreshments will be from 10.15am.

Analysts and institutional investors interested in attending the presentation should contact Tulchan Communications either by e-mail to [e-mail] or by telephone [phone].

A conference call facility and live webcast will now also be available for analysts and institutional investors unable to attend in person. Details are as follows:

· Conference call - telephone number: 0800 376 7922 or [phone]; conference ID number: 9863544

· Webcast - URL: https://edge.media-server.com/mmc/p/3i287h2k

A copy of the presentation and replay recording of the presentation via audio webcast will be available at www.reachplc.com later today.

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Enquiries

Reach	020 7293 3000
Jim Mullen, Chief Executive Officer Simon Fuller, Chief Financial Officer and Company Secretary Angus Prentice, Interim Investor Relations Director
Tulchan Communications	020 7353 4200
David Allchurch / Giles Kernick

Forward-looking statements

This announcement has been prepared in relation to the financial results for the 52 weeks ended 29 December 2019. Certain information contained in this announcement may constitute 'forward-looking statements', which can be identified by the use of terms such as 'may', 'will', 'would', 'could', 'should', 'expect', 'seek, 'anticipate', 'project', 'estimate', 'intend', 'continue', 'target', 'plan', 'goal', 'aim', 'achieve' or 'believe' (or the negatives thereof) or words of similar meaning. Forward-looking statements can be made in writing but also may be made verbally by members of management of the Company (including, without limitation, during management presentations to financial analysts) in connection with this announcement. These forward-looking statements include all matters that are not historical facts and include statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Company's results of operations, financial condition, changes in global or regional trade conditions, changes in tax rates, liquidity, prospects, growth and strategies. By their nature, forward-looking statements involve risks, assumptions and uncertainties that could cause actual events or results or actual performance or other financial condition or performance measures of the Company to differ materially from those reflected or contemplated in such forward-looking statements. No representation or warranty is made as to the achievement or reasonableness of and no reliance should be placed on such forward-looking statements. The forward-looking statements reflect knowledge and information available at the date of this announcement and the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information or to reflect any change in circumstances or in the Company's expectations or otherwise.

 

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