Connect Group PLC - Swindon-based newspaper & magazine wholesale distributor - Says trading in Smiths News over the last quarter of the 2020 financial year has been stronger than expected. Trading earnings before interest, taxes, depreciation, and amortisation for the fourth quarter ended August 29 was GBP10 million, with "strong" cash generation. As a result, expects to deliver adjusted Ebitda of GBP38.5 million to GBP39.0 million for full-year, above the top-end of guidance announced in July.
"The run rate performance in adjusted Ebitda in the fourth quarter has continued in September trading, in line with the board's expectations for the year," says Connect.
Current stock price: 20.95 pence
Year-to-date change: down 42%
By Lucy Heming; lucyheming@alliancenews.com
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