Smiths News PLC Contract Renewal - Associated Newspapers (3036D)

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RNS Number : 3036D

Smiths News PLC

19 October 2022

This announcement contains inside information

Smiths News PLC

("Smiths News")

Contract Renewal with Associated Newspapers Limited

Smiths News is pleased to announce that it has successfully secured a new long-term contract with Associated Newspapers Limited, publisher of the 'Daily Mail', 'The Mail on Sunday' and the 'i' newspaper.

The new agreement reached with Associated Newspapers represents the first of the major newspaper publisher contract renewals and follows closely on from this week's announcement of Smiths News having successfully secured new 5 year magazine distribution agreements with each of Frontline and Seymour.

The new agreement with Associated Newspapers is for all of Smiths News' current distribution territories in the UK through to 2029, representing revenues of c.GBP155m p.a. at current market values.

Combined with Frontline and Seymour, this now means that Smiths News has secured long-term contracts with 35% of its newspaper and magazine revenues. The new contracts are an endorsement of the future of the printed newspaper and magazine categories and confirm Smiths News' leading position in the sector.

Jon Bunting, Chief Executive Officer, commented:

"I am delighted that we have agreed a new contract with Associated Newspapers, building upon the recently announced Frontline and Seymour renewals. We look forward to working with Associated Newspapers to ensure the widespread access and availability of their titles for readers and continuing to demonstrate the pivotal role we play in the supply chain. Renewal of our publisher contracts remains a strategic priority for the business, underpinning the long-term sustainability of the business."

 
 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 
  [e-mail] 
  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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October 19, 2022 02:00 ET (06:00 GMT)