REG - Connect Group Plc - Long Term Contract with News UK

Smiths NewsAnnouncement

04/07/2018 07:06

RNS Number : 5049T
Connect Group PLC
04 July 2018
 


This announcement contains inside information
 
Connect Group PLC
("the Group" or "Connect Group")
 
Smiths News agrees new long term contract with News UK
 
 
Connect Group is pleased to announce that, following competitive tender, it has successfully renewed its long term contract with News UK, confirming Smiths News' current distribution territories within the United Kingdom through to July 2024.  The contract secures revenues of c£200m p.a. (at current values).
 
News UK is the United Kingdom's market leading national newspaper publisher with titles including The Sun, The Times and Sunday Times. This long term contract is an endorsement of Smiths News' leading service offer and efficient route to market for both publishers and retailers.
 
Mark Cashmore, Chief Executive Officer commented:
"We are delighted to confirm this significant publisher agreement for our newspaper and magazine distribution business.  Visibility of future revenues underpins the ability of Smiths News to continue to deliver strong profits and cash. The contract is good news for the supply chain as a whole and positions the Group well to secure a similar outcome with our other publisher partners".
 
 
Enquiries:



Connect Group PLC
Mark Cashmore, Chief Executive Officer
Tony Grace, Chief Financial Officer


 
01793 563641




www.connectgroupplc.com
 








Buchanan
Richard Oldworth / Jamie Hooper
connect@buchanan.uk.com
www.buchanan.uk.com


 
020 7466 5000



 




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