RCS - Smiths News PLC - Contract Renewal with Financial Times

Smiths NewsAnnouncement

18/09/2024 07:00

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RNS Number : 5661E  Smiths News PLC  18 September 2024

 

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                                                        via Vigo Consulting

 Jonathan Bunting, Chief Executive Officer

 Paul Baker, Chief Financial Officer

 www.smithsnews.co.uk (http://www.smithsnews.co.uk)

 Vigo Consulting                                                        Tel: +44 (0) 20 7390 0230

 Jeremy Garcia / Fiona Hetherington / Verity Snow

 smithsnews@vigoconsulting.com (mailto:smithsnews@vigoconsulting.com)

 

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
(http://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 (mailto:cosec@smithsnews.co.uk)

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