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On 10 December 2024, Smiths News PLC announced it secured a new long-term contract with Reach PLC. This contract is for Smiths News' current distribution territories in the UK through to 2029, representing revenues of approximately £160 million per annum. Smiths News has now formally secured long-term contracts with 91% of its newspaper and magazine revenues.
| Date | 10 Dec 2024 |
| Time | 07:00:01 |
| Category | Corporate updates |
| ID | 3526P |
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:
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Smiths News PLC Jonathan Bunting, Chief Executive Officer Paul Baker, Chief Financial Officer
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via Vigo Consulting |
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Vigo Consulting Jeremy Garcia / Fiona Hetherington / Verity Snow
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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