The UK’s biggest regional publisher has reported “unprecedented” demands for online news during the coronavirus crisis despite a 30pc drop in revenues during the first full month of lockdown.

Reach plc, which publishes more than 150 national and regional newspapers and websites, has issued a trading update for the first four months of the year ahead of its AGM today.

It reveals that while group revenues over the whole period were down 13.1pc, they fell 30.5pc in April as the lockdown took hold, with print revenue down 31.8pc and digital falling 22.5pc.

According to the update, regional advertising has been “particularly impacted” by the crisis while circulations remain “significantly below” pre-Covid19 levels.

Despite this, the company is reporting what it describes as “unprecedented demand” for news and content across its digital titles, with 1.7bn page views in April – a year-on-year rise of 57pc.

The company has already announced a number of cost-reduction measures to offset the revenue decline including furloughing a fifth of its 4,700 employees and reducing pay by 10pc.

The update reads: “Having started the year well, with encouraging digital growth, the COVID-19 crisis began impacting the business from mid-March.

“Since that time the group has seen declines in circulation sales, falls in print advertising revenue at a national and local level, reduced printing requirements from third parties, impacts from cancelled events and a reduction in digital yields due to lower advertising demand.

“Despite this we have seen unprecedented demand for news and content across our digital titles, with 42 million online users in the UK in March, ensuring Reach retained its position as the 5th largest UK online property.

“April saw total page views of 1.7 billion (up 57pc), average daily app users rose by 47pc to 674,000, and our hyperlocal news platform InYourArea surpassed 650,000 registered users.

“April represented a full month of impact from the lockdown and saw group revenue fall by 30.5pc, with print revenue down by 31.8pc and digital revenue falling 22.5pc, with higher page volumes not able to offset declines in advertising yields.

“While in some areas we have recently seen a stabilisation in trends, circulation remains significantly below pre-COVID-19 levels and advertising remains very challenging and uncertain, with regional advertising particularly impacted.

“While revenue performance for the year is expected to be significantly impacted by the COVID-19 crisis, the cost mitigation measures introduced will partially protect profitability levels and cash generation.

“We came into this crisis with a robust financial position and continue to run an efficient business.”

Reach chief executive Jim Mullen said: “Our priority in this crisis has been to ensure the health and safety of our colleagues and I would like to thank all of them for the positive way they have responded throughout this process.

“Our teams continue to focus on producing the award-winning journalism and content that is so valued by our customers at this critical time. We continue to build on our position as the UK’s largest commercial national and regional news publisher.

“Our strategy is now even more relevant than before the crisis so we are accelerating plans to drive digital engagement and capture the customer insight and data that is so key.

“This will ensure a strong and sustainable future for Reach’s trusted news brands.”

Commenting on the update, National Union of Journalists senior organiser Chris Morley said: “As the country’s biggest single commercial employer of journalists, we welcome the update from Reach plc that shows the company has a sound financial footing from which to anchor itself from the turbulence to the economy that the Covid-19 crisis has created.