Trading Statement

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: [e-mail]

 

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