Value of Mirror publisher Reach plunges 25% after it warns of profit squeeze
by Mark Sweney from on (#5WMKE)
Mirror and Express owner expects modest' drop in operating profits this year due to inflation and soaring costs
The value of the publisher of the Daily Mirror and Daily Express newspapers plunged by a quarter on Tuesday after it warned that inflationary pressure and soaring newsprint costs would hit profits this year.
The London-listed publisher Reach, which also owns 200 regional print and digital titles, including the Manchester Evening News and Liverpool Echo, warned that it expects to see a modest" drop in operating profits this year.
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