10 December 2024
Smiths News
PLC
("Smiths
News")
Contract Renewal
with Reach PLC
Smiths News, (LSE: SNWS), the UK's
largest news wholesaler and a leading provider of early morning
end-to-end supply chain solutions, is pleased to announce that it
has successfully secured a new long-term contract with Reach PLC
("Reach"), the UK's largest
commercial news publisher, publishing over 120 media brands
including the Daily Mirror, Sunday Mirror, The Sunday People, Daily
Express, Sunday Express, Daily Star, Daily Star Sunday and OK!
magazine.
The new contract with Reach, as
first referenced in our preliminary financial results published on
5 November 2024, is for all of Smiths News' current distribution
territories in the UK through to 2029, representing revenues of
c.£160m p.a. at current market values.
Smiths News has now formally secured
long-term contracts with 91% of its newspaper and magazine
revenues.
Jon Bunting, Chief Executive
Officer, commented:
"I
am delighted that we have now formally concluded our new contract
negotiations with Reach and look forward to ensuring the widespread
access and availability of their titles for readers in communities
across the UK. The extent of our contracts with major titles
continues to demonstrate the pivotal role Smiths News plays in the
early morning supply chain.
We
have now secured over 90% of our newspaper and magazine revenues
through to 2029 which provides underlying revenue stability in
addition to creating a robust platform from which to support our
growth ambitions for the business."
For
further information, please contact:
|
Smiths News PLC
Jonathan Bunting, Chief Executive
Officer
Paul Baker, Chief Financial
Officer
www.smithsnews.co.uk
|
via Vigo
Consulting
|
|
Vigo Consulting
Jeremy Garcia / Fiona Hetherington /
Verity Snow
smithsnews@vigoconsulting.com
|
Tel: +44
(0) 20 7390 0230
|
About Smiths News
For over 200 years, Smiths News has
been delivering newspapers to retailers across the UK. It
distributes newspapers and magazines on behalf of the major
national and regional publishers, delivering to approximately
22,400 customers across England and Wales on a daily basis. The
speed of turnaround and the density of Smiths News' coverage is
critical to one of the world's fastest physical supply
chains.
For more information, please
visit: www.smithsnews.co.uk
Person responsible for arranging release of this
announcement:
Stuart Marriner, General Counsel
& Company Secretary
Smiths News plc, Rowan House, Cherry
Orchard North, Kembrey Park, Swindon SN2 8UH
Email: cosec@smithsnews.co.uk