Smiths News PLC
07 February 2007
7 February 2007
SMITHS NEWS PLC
TRADING UPDATE
Ahead of its AGM this morning, Smiths News PLC is providing an update on its
trading performance for the five months to 31 January 2007.
Trading in the current year is in line with the Board's expectations.
Total sales for the first 5 months are 6% above last year, driven mainly by
contract gains with the magazine distributor Frontline secured in April 2006,
and by Regional Press gains from Northcliffe and Johnson Press secured in
September 2006.
Underlying sales, excluding new business gains, are in line with last year.
The trend of newspaper cover price increases more than offsetting volume
declines has continued. There was significant price activity from a number of
newspaper publishers in the early months of our financial year.
As expected, the magazine market has been more demanding, with declining volumes
in monthly magazines and reduced Partwork launches more than offsetting growth
in weekly magazines.
Management continue to drive service and efficiency at pace, with cost
savings being delivered ahead of plan.
Looking forward, the Board expects the current trading conditions to continue
for the remainder of the year and is managing the business on that basis. The
Company is positioned to deliver a performance in line with expectations.
Smiths News PLC will announce its interim results for the 6 months ending 28
February 2007 on 26 April 2007.
Contacts
For more information please call:
Kate Holgate or Tom Williams, Brunswick Group LLP 020 7404 5959
This information is provided by RNS
The company news service from the London Stock Exchange
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