(Sharecast News) - Smiths News announced on Friday that it has secured a new five-year contract with magazine distributor Marketforce, which is part of media group Future.
The new agreement secures all of Smiths News' current distribution territories in the UK with Marketforce through to 2029, representing 31% of the company's magazine revenues and 9% of its total newspaper and magazine revenues.
Smiths noted that together with other recently-announced contract awards, it has now renewed agreements representing 74% of its current newspaper and magazine revenues.
Chief executive Jon Bunting said: "Following previous contract wins, we are delighted to confirm this new agreement with Marketforce, a position that further cements our critical role in the wholesale distribution of news and magazines and which allows us to continue to invest in the long-term sustainability and simplification of the supply chain.
"Having now secured all of our major magazine contracts we remain confident that we will reach similar agreements with the remaining newspaper contracts."
Smiths News (SNWS)