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Smiths News PLC announced on 12 April 2023 that it secured a new five-year contract with News UK & Ireland Limited for distribution in all current UK territories through to 2029. This agreement represents 19% of Smiths News' current newspaper and magazine revenues. This is the fifth major publisher contract renewal, bringing the total long-term contracts secured to 65% of current newspaper and magazine revenues.
| Date | 12 Apr 2023 |
| Time | 07:00:03 |
| Category | Corporate updates |
| ID | 8770V |
This announcement contains inside information
Smiths News PLC
("Smiths News")
Contract Renewal with News UK
Smiths News is pleased to announce that it has successfully secured a new five year contract with News UK & Ireland Limited, publisher of 'The Sun', 'The Times' and 'The Sunday Times'.
The new agreement with News UK is for all of Smiths News' current distribution territories in the UK through to 2029, representing 19% of current newspaper and magazine revenues.
The agreement with News UK is the fifth major publisher contract renewal secured by Smiths News, following new five year agreements reached with each of Associated Newspapers, Telegraph Media Group, Frontline and Seymour Distribution. Together with this contract, Smiths News has now secured long-term contracts with 65% of its current newspaper and magazine revenues.
Jon Bunting, Chief Executive Officer, commented:
"I am very pleased that we have secured this new contract with News UK and look forward to working with them on future supply chain opportunities. We have now secured almost two thirds of our revenues through to 2029. This provides a great platform to develop and invest in, ensuring a simplified and sustainable long term supply chain for our publishers and customers."
Enquiries:
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Smiths News PLC Jonathan Bunting, Chief Executive Officer Paul Baker, Chief Financial Officer |
Via Buchanan |
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Buchanan Richard Oldworth / Jamie Hooper / Toto Berger smithsnews@buchanan.uk.com |
020 7466 5000 |
About Smiths News PLC
Smiths News PLC and its core business, Smiths News, is the UK's largest newspaper and magazine wholesaler, with an approximate 55 per cent. market share. It distributes newspapers and magazines on behalf of the major national and regional publishers, delivering to approximately 24,000 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.
Ancillary businesses include: Dawson Media Direct (DMD) which supplies airlines and travel points in the UK; and Instore, which offers field marketing services to retailers and suppliers across the 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: [email protected]