Contract Renewal - News UK

RNS Number : 8770V

Smiths News PLC

12 April 2023

 

This announcement contains inside information

Smiths News PLC

("Smiths News")

Contract Renewal with News UK

Smiths News is pleased to announce that it has successfully secured a new five year contract with News UK & Ireland Limited, publisher of 'The Sun', 'The Times' and 'The Sunday Times'.

The new agreement with News UK is for all of Smiths News' current distribution territories in the UK through to 2029, representing 19% of current newspaper and magazine revenues.

The agreement with News UK is the fifth major publisher contract renewal secured by Smiths News, following new five year agreements reached with each of Associated Newspapers, Telegraph Media Group, Frontline and Seymour Distribution. Together with this contract, Smiths News has now secured long-term contracts with 65% of its current newspaper and magazine revenues.

Jon Bunting, Chief Executive Officer, commented:

"I am very pleased that we have secured this new contract with News UK and look forward to working with them on future supply chain opportunities. We have now secured almost two thirds of our revenues through to 2029. This provides a great platform to develop and invest in, ensuring a simplified and sustainable long term supply chain for our publishers and customers."

Enquiries:

Smiths News PLC Jonathan Bunting, Chief Executive Officer Paul Baker, Chief Financial Officer	Via Buchanan
www.smithsnews.co.uk
Buchanan Richard Oldworth / Jamie Hooper / Toto Berger smithsnews @buchanan.uk.com www.buchanan.uk.com	020 7466 5000

About Smiths News PLC

Smiths News PLC and its core business, Smiths News, is the UK's largest newspaper and magazine wholesaler, with an approximate 55 per cent. market share. It distributes newspapers and magazines on behalf of the major national and regional publishers, delivering to approximately 24,000 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.

Ancillary businesses include: Dawson Media Direct (DMD) which supplies airlines and travel points in the UK; and Instore, which offers field marketing services to retailers and suppliers across the 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: [e-mail]

 

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