Reach has posted a 2.3% jump in adjusted operating profit to £104.7m in its latest annual results, at an improved margin of 20.2%.

This was despite the publishing group’s revenue dipping by 3.7% to £518.4m in 2025.

Reach said the drop in revenue was driven by a 4.6% decline in print revenue to £388.1m, although it added that its digital performance proved resilient, with revenues of £128.9m broadly similar to 2024 (£130m).

The company, which owns several newspapers including the Daily Mirror, Daily Express, and a range of regional titles, said it also made 5.2% in adjusted operating costs in the year, ahead of a 4-5% target, adding that it would continue to manage costs and improve efficiency.

This equated to a £23m reduction in costs, Reach added, with a focus on reducing overheads and general input costs, as well managing labour costs – the largest component of the company’s cost base.

Across the first two months of 2026, Reach said it was trading against a backdrop of “lower referral volumes” and a “challenging macroenvironment”, but that it remains on track to deliver market expectations for the full year – which is underpinned by another 5-6% reduction in adjusted operating costs.

Chief executive, Piers North, said: “We are pleased to have increased our adjusted operating profit to £104.7m, driven by decisive action on costs as we move forward with a leaner and more strategic structure. In a year marked by disruption in the search and referral landscape, we have demonstrated our resilience with a strong financial performance.

“We have set a clear direction for the company through three strategic priorities, and we are already executing them at speed, with six digital subscription launches so far and a strong uptick in video output.

“By leveraging our deep understanding of our communities and continuing to move with our audiences, we are building a more sustainable future for our content and our business as a whole.”

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