StockMarketWire.com - Daily Mirror and Express newspaper publisher Reach said its third-quarter revenue rose by 21% in the third quarter, due to its acquisition of Express & Star.

However, on a like-for-like basis, revenue fell 7%, reflecting tough times for print media.

Circulation and publishing print advertising revenue fell by 4% and 20%, respectively.

Publishing digital revenue grew by 7%, with display and transactional revenue growing by 12%.

Reach said 'good' progress had been made on the integration of Express & Star and that it remained on track to deliver integration savings of £2m in 2018 and at least £20m per annum by 2020.

The company also said that it sold its email marketing business Communicator Corporation for £7.6m, of which £6.8m in cash was received on completion and the remaining £0.8m was payable in March.

'Our continued focus on tightly managing costs and driving digital revenue continues to provide confidence that performance for the year will be in line with market expectations,' chief executive Simon Fox said.




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