Smiths News PLC Contract Renewal with Marketforce (7564T)

TIDMSNWS

RNS Number : 7564T

Smiths News PLC

17 November 2023

This announcement contains inside information

Smiths News PLC

("Smiths News")

Contract Renewal with Marketforce

Smiths News is pleased to announce that it has successfully secured a new five year contract with the magazine distributor Marketforce (UK) Limited.

The new agreement secures all of Smiths News' current distribution territories in the UK with Marketforce through to 2029, representing 31% of our magazine revenues and 9% of our total newspaper and magazine revenues.

Marketforce is part of Future plc and as well as distributing Future's titles, Marketforce also represents a broad portfolio of independent publishers.

Together with other recently announced contract awards, Smiths News has now renewed agreements representing 74% of its current newspaper and magazine revenues.

Jon Bunting, Chief Executive Officer, commented:

"Following previous contract wins, we are delighted to confirm this new agreement with Marketforce, a position that further cements our critical role in the wholesale distribution of news and magazines and which allows us to continue to invest in the long-term sustainability and simplification of the supply chain. Having now secured all of our major magazine contracts we remain confident that we will reach similar agreements with the remaining newspaper contracts."

Enquiries:

 
 
   Smiths News PLC                          Via Buchanan 
   Jonathan Bunting, Chief Executive 
   Officer 
   Paul Baker, Chief Financial Officer 
 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 approximately 55 per cent. market share. It distributes newspapers and magazines on behalf of the major national and regional publishers, delivering to approximately 23,000 retail outlets across England and Wales. 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: Smiths News Recycle, which collects plastic and cardboard waste from Smiths News' customers for recycling; Dawson Media Direct (DMD) which supplies airlines and travel points with news and media; 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]

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

CNTGPGMGGUPWGBQ

(END) Dow Jones Newswires

November 17, 2023 02:00 ET (07:00 GMT)