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Media group Reach plc has hailed its return to digital growth as it posted operating profits ahead of market expectations.

The group, which owns BusinessLive as well as national and regional titles including the and , said revenues for 2024 declined 5.3% to £538.6m.

Print revenue of £406.7m was down 7.3%, 6.0% like-for-like, but Reach said it “ importantly outperformed the volume trends”. Digital revenue returned to growth, rising 2.1% to £130m, while digital advertising yields grew 19%

The group delivered a 6.5% like-for-like reduction in operating costs to £439.1m. Its Customer Value Strategy, aimed at growing loyal online audiences, drove a 6.8% increase in data-driven digital revenues.

Adjusted pre-tax profits rose 16.5% to £79.7m while adjusted operating profit rose by 6.0% – “ahead of market expectation” – at an improved margin of 19%, up from 17% last year.

In Q4 of 2024 Reach hailed a “strong digital performance”, with revenue up 8.6% like-for-like, while print advertising also performed well “given the unusually high level of activity by food retailers in the comparable quarter last year”.

Chief executive Jim Mullen said: "Our good performance in 2024 saw our digital business move back to growth, driven by our Customer Value Strategy and diversification into areas like affiliates and ecommerce. Our use of data allowed us to drive greater value from our digital content, increase engagement and deliver better performance for our advertisers. We continue to demonstrate expert management of our print business, maximising revenue and reader value, while maintaining our focus on costs across the business.

"The media landscape has continued to evolve, and the year saw us adapt our own proposition with the introduction of the Content Hub and increased video capability. Our audiences have responded positively, demonstrating support for our offer and for the value of free-to-access, advertising-funded journalism that informs, is reliable and gives them a voice. We are well placed for 2025."