The Reach PLC Board have announced an interim dividend 2.75p; 4.6% greater than value of non-cash bonus issue of shares issued in lieu of interim last year
The Board recognises importance of growing dividends for shareholders, while also investing to grow the business and meeting pension funding requirements; expect to continue to pay dividends in line with Group free cash position
Other financial highlights include:
Group Revenue LFL up 2.6%, with digital up 42.7% and print down 5.2%
Adjusted operating profit of £68.9m up by 25.5%
Adjusted operating profit margin 22.8% (H1'20: 18.9%)
Adjusted operating cash flow of £82.6m (H1'20: £63.5m)
Statutory profit and earnings impacted by property rationalisation and change in tax rate
