Newspaper publishing group Reach has announced it remains on course to meet its full-year profit expectations after its digital revenue helped to offset falling print revenue in Q3.

Reach, which publishes newspapers including the Daily Mirror and Daily Express, grew its digital revenue by 2.5% in Q3 as a result of strong digital trading. However, its total group revenue for the quarter reflected a 2.5% year-on-year loss.

The newspaper publisher’s “customer value strategy” has helped to drive higher levels of data-driven revenues which has created more valuable advertising for its partners. Reach’s data-driven revenues grew 10% and now represent 46% of all digital revenues, a figure that stood at 43% in the previous financial year.

In its print business, Reach said its circulation revenues remain “predictable”, and that print advertising revenue is continuing to outperform volume declines, bolstered by demand from retailers.

As a result, Reach said it remains “confident in delivering expectations for the full year”. After three quarters, the publishing group is tracking slightly ahead of the 5-6% cost saving target it set itself at the start of the year.

Chief executive at Reach, Jim Mullen, said that the group’s customer value strategy has continued to “drive revenue diversification”.

Mullen added: “We continue to make good progress with our investments including our US expansion, the re-platforming of our websites and our in-house ad tech platform, Mantis.

“While the quarter saw big news events such as the Olympics and developments in the US elections, it also highlighted the importance of trusted news sources to responsibly report on tragic events such as in Southport, especially in the wake of disinformation and social unrest.”

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