Reach’s update reveals encouraging underlying performance, with Q3 sales decline of -2% y/y decelerating from Q2 (-3%) even inclusive of a advertising blackout in September. Underlying growth was in-line with SCMe forecasts, as Digital revenue growth accelerated to +6% y/y (Q2: +0%) reflecting: 1) user engagement initiatives and returns on focused editorial investment driving traffic (Digital page views: +6% y/y); and 2) stabilised Digital yields as a greater share of inventory was allocated to ....
