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13 October 2020
Connect Group PLC
("the Company" or "the Group")
Publisher Contract Win
New contract with Associated Newspapers
The Company is pleased to announce that Smiths News has agreed a new five-year contract with Associated Newspapers, publisher of the Daily Mail, The Mail on Sunday and the i newspaper. The exclusive agreement encompasses all our existing distribution territories, securing annual revenues of circa GBP175m at current market values, accounting for 15.9% of our sales.
The Company has now secured over 95% of total newspaper and magazine revenues under new long-term contracts until at least 2024, with the remaining revenues within Smiths News largely representing smaller publishers and operating on rolling agreements.
Commenting on today's announcement, Jonathan Bunting, Chief Executive Officer, said:
' I'm delighted that we have secured a new agreement with Associated Newspapers, completing our goal of renewing all our major contracts. The certainty this brings to our network will underpin our plans for further efficiencies and provides the Company with good visibility of future revenue and cash flow. '
Year high 39 last October. Can we achieve this?
The Company has now secured over 95% of total newspaper and magazine revenues under new long-term contracts until at least 2024, with the remaining revenues within Smiths News largely representing smaller publishers and operating on rolling agreements.
Commenting on today's announcement, Jonathan Bunting, Chief Executive Officer, said:
' I'm delighted that we have secured a new agreement with Associated Newspapers, completing our goal of renewing all our major contracts. The certainty this brings to our network will underpin our plans for further efficiencies and provides the Company with good visibility of future revenue and cash flow. '
Is it possible this can reach 30p 39p seems to high for current situation but good RNS it can go up prob tomorrow as well...
Looks like its running towards 27p today
IN BRIEF: Connect Signs GBP175 Million Deal With Daily Mail Publisher
Tue, 13th Oct 2020 19:08
Connect Group PLC - distributor of newspapers, magazines, books and consumables - News wholesaler unit Smiths News has agreed a new five-year contract with Associated Newspapers, publisher of the Daily Mail, The Mail on Sunday and the i newspaper. The exclusive agreement encompasses all the existing distribution territories, securing annual revenues of about GBP175 million at current market values, accounting for 16% of Connect's sales.
"The company has now secured over 95% of total newspaper and magazine revenues under new long-term contracts until at least 2024, with the remaining revenues within Smiths News largely representing smaller publishers and operating on rolling agreements," Connect added.
Broker Rating 1 Oct '20
https://www.sharecast.com/equity/Connect_Group/broker-views
27p plus