REG - Smiths News PLC - Trading Statement

Smiths NewsAnnouncement

13/07/2021 07:00

RNS Number : 9723E
  
Smiths News PLC
  
13 July 2021
  
 

This announcement contains inside information
 
13 July 2021
Smiths News plc
("the Company")
 
Trading Update
 
Smiths News is pleased to report a strong operational and financial performance for the 43-week period to 26 June 2021, with trading expected to be ahead of market expectations for the 52 week period ending 28 August 2021. 
 
As anticipated at the Company's interim results in May 2021, core sales of newspapers and magazines have continued to stabilise, with positive year-on-year comparators for the months following the anniversary of the first lockdown in March 2020. The return of major sporting events, particularly the European Football Championship, has further boosted sales of one-shots, stickers and albums, which will generate a one-off benefit of circa £1m EBITDA this financial year. 


Cash generation and other key financial metrics are in line with the Board's expectations.
 
Given the continued strong performance of the business, together with the one-off benefit to sticker and album sales this year, the Board expects full year adjusted EBITDA to be ahead of market expectations.
 
Jonathan Bunting, Chief Executive Officer, commented:
 
"Our performance since the half-year has been pleasing, with robust operational control securing the benefits of the improving sales and stability in our core markets. We remain focused on delivering for all stakeholders and are confident that the business is well placed to build upon recent progress as the remaining restrictions on social movement are lifted."
 
-Ends-
 
Enquiries:
 




Smiths News PLC
Jonathan Bunting, Chief Executive Officer
Tony Grace, Chief Financial Officer


 
Via Buchanan




www.corporate.smithsnews.co.uk
 


 




Buchanan
Richard Oldworth / Jamie Hooper / Toto Berger
smithsnews @buchanan.uk.com
www.buchanan.uk.com


 
020 7466 5000




 
 
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

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