Reach (RCH) AGM 2025 summary

Opening remarks and agenda

• Chair opened the meeting, confirmed quorum, and outlined housekeeping points for attendees.

• Agenda included introductory remarks, CEO introduction, CFO financial review, Q&A, and voting on resolutions.

• Board members and their roles were introduced, including recent changes in committee responsibilities.

Board and executive committee updates

• Barry Panayi appointed as Chair of the Remuneration Committee; Denise Jagger as Colleague Ambassador.

• Piers North introduced as new CEO, highlighting his decade-long tenure and prior executive roles.

• Board expressed confidence in its balance and strength, thanking directors for their contributions.

Financial performance review

• 2024 results showed operational and strategic progress, with digital revenue returning to growth.

• Digital business grew 2%, data-driven revenues up 7%, and operating profit increased by 6% to £102 million.

• Print revenue outperformed structural declines, and cost actions led to a 6.5% reduction in total operating costs.

• Q1 2025 update: digital revenue up 1.6%, page views up 9%, print circulation down 4%, but print advertising strong.