Share Name Share Symbol Market Type Share ISIN Share Description
Connect Group PLC NEX:CNCT.GB NEX Ordinary Share GB00B17WCR61
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.70 1.98% 36.00 32.30 39.30 35.80 31.17 35.80 58,370 16:30:05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - -

Connect Group PLC Contract Award with Marketforce (UK) Ltd

09/04/2019 7:00am

UK Regulatory (RNS & others)


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RNS Number : 5045V

Connect Group PLC

09 April 2019

Connect Group PLC

("the Group" or "Connect Group")

Smiths News agrees new long term contract with Marketforce (UK) Limited ("Marketforce")

Connect Group is pleased to announce that Smiths News has agreed a new long term contract with the magazine distributor Marketforce. The agreement secures all Smiths News' distribution territories with Marketforce from 2020 through to 2025, representing revenues of circa GBP130m.p.a. at current market values.

Marketforce is part of TI Media Limited and its portfolio accounts for approximately 38% share of the UK magazine market. As well as representing TI Media, Marketforce distributes on behalf of publishers such as Hello!, DCThomson and Future Publishing. In addition, Marketforce is the largest distributor of collectables to the UK newstrade.

Together with other recently announced contract awards, Smiths News has now renewed agreements representing 98% of its magazine sales and 65% of total sales revenues.

Jos Opdeweegh, Chief Executive Officer, commented:

"We are delighted to confirm this new agreement with Marketforce, which represents a milestone in our strategy to accelerate the renewal of our key contracts. We have now absolute clarity on the magazine footprint and I'm confident that our constructive discussions with the remaining publishers will soon ensure the same for the remaining newspaper contracts."

Enquiries:

 
 Connect Group PLC 
  Jos Opdeweegh, Chief Executive Officer 
  Tony Grace, Chief Financial Officer         01793 563641 
 www.connectgroupplc.com 
 Buchanan 
  Richard Oldworth / Jamie Hooper 
  connect@buchanan.uk.com 
  www.buchanan.uk.com                         020 7466 5000 
 

Person responsible for arranging release of this announcement:

Stuart Marriner

General Counsel & Company Secretary

Connect Group PLC

Rowan House

Cherry Orchard North

Kembrey Park

Swindon

SN2 8UH

email: cosec@connectgroupplc.com

LEI: 2138004O33ONVOOQXB02

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 rns@lseg.com or visit www.rns.com.

END

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(END) Dow Jones Newswires

April 09, 2019 02:00 ET (06:00 GMT)

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