LONDON (Reuters) – Reach, publisher of the Daily Mirror, said it needed Britain to avoid a disorderly exit from the European Union if it was to continue making good progress, as it reported 2018 profits ahead of forecasts.
Previously called Trinity Mirror, Reach’s adjusted operating profit rose 16.8 percent to 145.6 million pounds ($190.2 million), ahead of forecasts of 140 million pounds, helped by the acquisition of the Daily Express and Star titles and digital growth.
“Subject to there being no significant adverse implications arising from the UK’s exit from the European Union, we are confident that our strategy will enable continued progress to support profit and cash flow,” it said.
The group took a non-cash impairment charge of 200 million pounds relating to historic pension changes.
(Reporting by Kate Holton, editing by James Davey)
