Reach PLC

Daily Mirror and Daily Express publisher Reach reported a 9% drop in total revenues to £232.9 million for the six months to June 30, driven by a 40% plunge in page views as Google’s AI-generated answers reduced referral traffic. Digital revenues fell to £54.2 million from £61.1 million a year earlier, with indirect revenues down 16.2% year-on-year, while print revenues declined 8.3% to £178 million. Adjusted pre-tax profits dipped 5% to £40.3 million, but the group swung to a statutory loss after booking a £36.1 million non-cash impairment on print sites, a £21.7 million amortisation hit on publishing rights, and £14.7 million in restructuring costs. Chief Executive Piers North said the company is focusing on subscriptions and video to reduce reliance on referral traffic, and expects sector headwinds to persist into 2027.