News International Update

RNS Number : 0188K

Smiths News PLC

08 July 2011

 



For immediate release

8 July 2011

Smiths News PLC

Smiths News PLC ("the Group"), the UK's leading wholesaler of newspapers, magazines and books, notes the recent decision by News International to cease production of its UK weekly national newspaper the News of the World from Sunday 10 July 2011.

Despite this unprecedented step by the board of News International, Smiths News expects that a combination of significant buyer substitution and the Groups flexible cost base will result in minimal financial impact.

The Group remains confident it will deliver growth in pre-tax profits for the full year ending 31 August 2011 in line with market consensus.

Enquiries:

Smiths News PLC	Tel: [phone]
Mark Cashmore, Group Chief Executive
Nick Gresham, Chief Financial Officer
Buchanan Communications Jeremy Garcia / Mark Edwards	Tel: [phone]

About Smiths News PLC:

Smiths News PLC comprises Smiths News, the UK's leading wholesaler of newspapers and magazines and Bertrams, a leading UK book wholesaler.

Smiths News distributes newspapers and magazines on behalf of all the major national publishers as well as a large number of regional publishers. The business serves approximately 30,000 customers across England and Wales, supplying large general retailers as well as smaller independent newsagents.  Smiths News has an approximate 55% share of the newspaper and magazine wholesaling market in the UK. In addition to its distribution activities, Smiths News collects and processes returns, supplies sales information to publishers and provides a range of services for its retail customers.

Bertrams, which was acquired on 20 March 2009, supplies books to a mix of independent booksellers, on-line and multiple retailers, and libraries.

The Group operates from 59 distribution centres across England and Wales, and employs approximately 5,300 staff.

 

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