October 8, 2018 / 6:36 AM / a month ago

Daily Mirror publisher on track after Express acquisition

LONDON, Oct 8 (Reuters) - Reach, the British newspaper publisher that bought the Daily Express and the Star in February, saw its third-quarter revenue rise 21 percent thanks to the acquisitions, although underlying ad demand remained weak.

The company, which publishes the Daily and Sunday Mirror, said like-for-like group revenue fell 7 percent, with circulation and print advertising revenue down 4 percent and 20 percent respectively.

Chief Executive Simon Fox said he was pleased with the progress being made on the integration of Express & Star and the group was on track to deliver at least 20 million pounds ($26 million) of annual synergy savings by 2020.

The company said on Monday it was confident it would meet market expectations for full-year adjusted pretax profit, which range from 132.1 million to 133.9 million pounds.

$1 = 0.7639 pounds Reporting by Paul Sandle; editing by Kate Holton

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