Reach PLC (FRA:MRR)

€ 1.034 -0.01 (-0.96%) Market Cap: 337.82 Mil Enterprise Value: 389.19 Mil PE Ratio: 6.87 PB Ratio: 0.42 GF Score: 70/100

Half Year 2019 Reach PLC Earnings Call Transcript

Jul 29, 2019 / 08:30AM GMT

Transcript

Simon Fox;CEO;Executive Director

& -

We are ready to go. Okay. Good morning, everybody. Thank you for joining us. So before we start, let me just play you a short video.

(presentation)

So before I start, you will have seen that I will soon be stepping down from Reach and handing over to my successor, Jim Mullen. Whilst there's never an ideal time to leave an organization, if there was, it would be now. I'm very proud of what we've achieved over the past 7 years, and as today's results demonstrate, I leave the company in very good health. The strategy that you'll hear about today is being developed by the whole Board, and I'm confident that the transition to Jim will be a seamless one.

So let me move on now to our results announcement. And we had a robust first half. Our strong cash flow has reduced our net debt significantly, enabling investment to future growth. We've also, once again, increased our interim dividend. We accelerated our digital audience growth, establishing ourselves as a digital player of true scale. And we continue to effectively

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