⌘K
t
Smiths News PLC secured a new five-year contract with magazine distributor Marketforce (UK) Limited. This agreement secures Smiths News' current distribution territories with Marketforce through 2029. The contract represents 31% of Smiths News' magazine revenues and 9% of its total newspaper and magazine revenues, bringing total renewed agreements to 74% of its current newspaper and magazine revenues.
| Date | 17 Nov 2023 |
| Time | 07:00:10 |
| Category | Corporate updates |
| ID | 7564T |
This announcement contains inside information
Smiths News PLC
("Smiths News")
Contract Renewal with Marketforce
Smiths News is pleased to announce that it has successfully secured a new five year contract with the magazine distributor Marketforce (UK) Limited.
The new agreement secures all of Smiths News' current distribution territories in the UK with Marketforce through to 2029, representing 31% of our magazine revenues and 9% of our total newspaper and magazine revenues.
Marketforce is part of Future plc and as well as distributing Future's titles, Marketforce also represents a broad portfolio of independent publishers.
Together with other recently announced contract awards, Smiths News has now renewed agreements representing 74% of its current newspaper and magazine revenues.
Jon Bunting, Chief Executive Officer, commented:
"Following previous contract wins, we are delighted to confirm this new agreement with Marketforce, a position that further cements our critical role in the wholesale distribution of news and magazines and which allows us to continue to invest in the long-term sustainability and simplification of the supply chain. Having now secured all of our major magazine contracts we remain confident that we will reach similar agreements with the remaining newspaper contracts."
Enquiries:
|
Smiths News PLC Jonathan Bunting, Chief Executive Officer Paul Baker, Chief Financial Officer |
Via Buchanan |
|
|
|
|
Buchanan Richard Oldworth / Jamie Hooper / Toto Berger |
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 approximately 55 per cent. market share. It distributes newspapers and magazines on behalf of the major national and regional publishers, delivering to approximately 23,000 retail outlets across England and Wales. 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: Smiths News Recycle, which collects plastic and cardboard waste from Smiths News' customers for recycling; Dawson Media Direct (DMD) which supplies airlines and travel points with news and media; 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]