Long Term Contract with News UK

RNS Number : 5049T

Connect Group PLC

04 July 2018

 

This announcement contains inside information

Connect Group PLC

("the Group" or "Connect Group")

Smiths News agrees new long term contract with News UK

Connect Group is pleased to announce that, following competitive tender, it has successfully renewed its long term contract with News UK, confirming Smiths News' current distribution territories within the United Kingdom through to July 2024.  The contract secures revenues of c£200m p.a. (at current values).

News UK is the United Kingdom's market leading national newspaper publisher with titles including The Sun, The Times and Sunday Times. This long term contract is an endorsement of Smiths News' leading service offer and efficient route to market for both publishers and retailers.

Mark Cashmore, Chief Executive Officer commented:

"We are delighted to confirm this significant publisher agreement for our newspaper and magazine distribution business.  Visibility of future revenues underpins the ability of Smiths News to continue to deliver strong profits and cash. The contract is good news for the supply chain as a whole and positions the Group well to secure a similar outcome with our other publisher partners".

Enquiries:

Connect Group PLC Mark Cashmore, Chief Executive Officer Tony Grace, Chief Financial Officer	01793 563641
www.connectgroupplc.com
Buchanan Richard Oldworth / Jamie Hooper [e-mail] www.buchanan.uk.com	020 7466 5000

 

END

 

 

CNTUGUCAMUPRGBW