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
  +0.00p - - - - - - - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - -

Connect Group PLC Contract Award with Reach PLC

11/02/2019 7:00am

UK Regulatory (RNS & others)


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RNS Number : 5604P

Connect Group PLC

11 February 2019

Connect Group PLC

("the Group" or "Connect Group")

Smiths News agrees new long term contract with Reach PLC ("Reach")

Connect Group is pleased to announce that Smiths News has agreed a new long-term contract with Reach from October 2019 through to September 2024. The agreement secures annual revenues of circa GBP220m at current market values and encompasses all Smiths News' distribution territories

Reach's newspaper portfolio includes the Daily Mirror, Sunday Mirror, People, Daily Express, Daily Star, Sunday Express and Daily Star Sunday. The contract also covers Reach's regional press business and OK! magazine. In total, Reach accounts for approximately 25% of Smiths News' newspaper sales.

Jos Opdeweegh, Chief Executive Officer, commented:

"I am delighted that we have agreed a new contract with Reach. The accelerated renewal of Smiths News' contracts is a strategic priority and we have now secured approximatively 54% of our sales, including our largest newspaper and magazine partners. We are confident our remaining contracts can also be agreed, underpinning our plans for a sustainable recovery in the performance of the Group."

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 
 

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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February 11, 2019 02:00 ET (07:00 GMT)

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