StockMarketWire.com - Newspaper publisher Reach posted a first-half loss, due to a large tax bill, but its revenue rose and it declared an interim dividend.

Net losses for the six months through 27 June amounted to £34.8 million, compared to year-on-year losses of £2.4 million.

Pre-tax profit edged up to £25.7 million, from £25.2 million, as revenue climbed 4% to £302.3 million.

Operating profit fell 1% to £28.6 million, but 'adjusted' operating profit rose 26% to £68.9 million.

Reach, which publishes the Daily Mirror and Daily Express, declared an interim dividend of 2.75p per share.

'Reach is transforming its prospects and with strong momentum in the customer value strategy we now have a clear pathway to sustainable growth,' chief executive Jim Mullen said.


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