18 September 2024
Smiths News
PLC
("Smiths
News")
Contract Renewal
with Financial Times
Smiths News (LSE: SNWS), the leading
distributor of newspapers, magazines and ancillary services to
retailers across the UK, is pleased to announce that it has
successfully secured a new long-term contract with the Financial
Times.
The new agreement secures all of
Smiths News' current distribution territories in the UK with the
Financial Times.
Together with other recently
announced contract awards, Smiths News has now renewed agreements
representing 75% of its current newspaper and magazine revenues on
long-term agreements.
Jon
Bunting, Chief Executive Officer of Smiths News,
commented:
"We are delighted to confirm this new agreement with the
Financial Times, which builds on our previously announced contract
wins successfully securing contracted revenues with publishers
through to 2029. Contract discussions for the remaining newspaper
contracts are continuing to progress well and we remain confident
that we will reach similar agreements in due course. Securing our
publisher contracts underpins the long-term sustainability of the
business and provides the platform for continued investment and
future growth in line with our capital allocation
policy."
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, magazines and ancillary items on behalf of
the major national and regional publishers, delivering to
approximately 23,000 customers across England and Wales on a daily
basis. The speed of turnaround and the density of Smiths News'
coverage is critical to Smiths News' position as a leading UK
provider of early morning end-to-end supply chain
solutions.
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