AmazonScience/document-haystack

1Across the wider business, we continued 2to make progress in making Reach more 3responsible, such as by providing greater 4support to colleagues regarding menopause 5and accessibility, and we were proud to see 6our efforts recognised when we were ranked 7#19 in the Inclusive Companies list.8Our teams9In 2023, the Board oversaw the implementation 10of a continued push to carefully manage our 11costs, a decision that involved reducing the 12size of most of our teams. While we agreed 13this was a necessary step to safeguard the 14future of our business and our journalism, we 15recognise that such changes are enormously 16difficult for all our people. We worked closely 17with management to understand the impact 18of these changes and encouraged direct 19communication with employees, via several 20in-person meetings across Reach sites.21Board changes22Darren Fisher joined the Board as Chief 23Financial Officer in February 2023, joining us 24from ITV plc where he was Group Director 25of Finance. He has brought a strong set of 26financial, operational and strategic skills to the 27Board, experience which will benefit the Group. 28For more on changes to the Board this year, 29see page 75.30Dividend31The Board proposes a final dividend of 4.46 32pence per share for 2023 (2022: 4.46 pence 33per share), which follows the interim dividend 34of 2.88 pence. In proposing the final dividend, 35the Board has considered all investment 36requirements and its funding commitments 37to the defined benefit pension schemes.38Moving forward39Over the coming months, we expect to 40see continuing shifts in audience and tech 41platform behaviour but we will be ready to 42adapt to those changes. The work we have 43done in 2023 has put us in a strong position 44to face the challenges 2024 may bring, and 45to consolidate our position as a leading 46digital publisher.47The Board and I would like to thank everyone 48at Reach for another year of outstanding work 49under very challenging circumstances. The 50talent and dedication we continue to see is 51a powerful reminder of the strength of our 52purpose as we work together to ensure 53the future of our journalism.54Nick Prettejohn55Chairman565 March 202457Chairman’s statement continued58I am always heartened to see the very real 59impact our campaigning journalism has every 60year, both nationally and locally – a reminder 61that the work this business does matters. 62While campaigns are often a labour of love 63for months or even years, sometimes they hit 64the mark quickly, as we saw with the Mirror’s 65campaign last summer which successfully 66halted the closure of rail station ticket offices. 67For more campaigning journalism highlights 68of the year, see page 34.69Responsible business70We continued to strengthen our commitment 71to being a responsible business, building on 72the excellent work done in 2022 when we 73introduced a new formal framework. In 2023, 74we made further progress in our environmental 75efforts, in particular putting the reporting and 76data in place that will pave our path to net 77zero. A significant step was taken towards 78this goal in 2023 when our three print sites 79all completed work on installing 9,000sq m of 80solar panels that will reduce both our carbon 81footprint and our dependence on external 82energy providers.83We also continued to work on being a more 84inclusive business. At Board level, I am proud 85to have achieved our 30% Club commitment 86to a better gender and ethnicity balance on 87the Board. However, I acknowledge that this 88is only a starting point and that, while Reach’s 89executive management team has also fulfilled 90its pledge of achieving 30% women in its 91makeup, it has yet to achieve its ethnicity 92targets – this is an area we are committed  93to improving.94including the Online Safety Bill and the repeal 95of Section 40 of the Crime and Courts Act. 96Crucially in 2023, we watched the Digital 97Markets Bill continue to take shape. As this Bill 98progresses through Parliament, we hope it will 99provide rules of engagement that will bring 100clarity and transparency to our dealings with 101tech platforms, particularly around the value 102of our content. Reach will continue to work 103both with Government and opposition to 104lobby for a fair playing field for news in 105the digital landscape.106Innovative journalism107We remain driven by our core purpose 108to enlighten, empower and entertain our 109audiences. While awards aren’t the only 110marker of our success, it was nonetheless 111gratifying to see our teams continue to be 112recognised for their work in 2023, often on 113an international scale. For example, the 114International News Media Awards (INMA) 115recognised the Manchester Evening News for 116its Awaab Ishak investigation, and the Cannes 117Lion International Festival of Creativity gave 118the Daily Star a Bronze PR award for its viral 119sensation ‘Lettuce vs Liz Truss’ campaign. 120Closer to home, our journalists continued to 121win multiple awards, with our local colleagues 122in particular regularly sweeping the categories.123We were also noticed for work which saw our 124people exploring new territory – for example, 125the multi-award-winning WhatsApp 126communities project from our social team, 127which pioneered a new and effective way of 128engaging with people. This drive to innovate 129and reinvent how we deliver our content 130deserves to be celebrated.1315132Reach plc Annual Report 2023Strategic Report Governance Financial Statements Other Information5Reach plc Annual Report 2023 5Reach plc Annual Report 2023