LONDON (Reuters) – Reach <RCH.L>, the British newspaper publisher that bought the Daily Express and the Star in February, saw its third-quarter revenue rise 21 percent thanks to the acquisitions, although underlying ad demand remained weak.
The company, which publishes the Daily and Sunday Mirror, said like-for-like group revenue fell 7 percent, with circulation and print advertising revenue down 4 percent and 20 percent respectively.
Chief Executive Simon Fox said he was pleased with the progress being made on the integration of Express &Star and the group was on track to deliver at least 20 million pounds of annual synergy savings by 2020.
The company said on Monday it was confident it would meet market expectations for full-year adjusted pretax profit, which range from 132.1 million to 133.9 million pounds.
(Reporting by Paul Sandle; editing by Kate Holton)