Reach (RCH) Trading Update summary
Event summary combining transcript, slides, and related documents.
Trading Update summary
6 Jun, 2025Trading performance and guidance
Strong Q4 trading leads to expectations of full-year results ahead of current market consensus, with adjusted operating profit for FY24 expected to surpass £97.8m.
Pension scheme update
A historical error in the West Ferry Printers Pension Scheme requires an estimated £5m additional funding, to be paid in 2025.
No material errors found in other pension schemes; 2022 triennial valuations remain unchanged.
Refinancing and liquidity
Completed refinancing with a £145m Revolving Credit Facility maturing in December 2028, plus a £72.5m uncommitted accordion facility.
Financial covenants remain unchanged: interest cover >5.0, leverage <1.75.
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