12 Oct 2018 11:43
This announcement contains inside information
Connect Group PLC
("the Group" or "Connect Group")
Smiths News agrees new long term contract with Frontline Distribution Limited ("Frontline")
Connect Group is pleased to announce that Smiths News has agreed a new long term contract with Frontline, the UK's largest magazine distributor. The agreement secures all Smiths News' distribution territories with Frontline from 2020 through to 2025, representing revenues of circa £150m.p.a. at current market values.
Frontline's portfolio accounts for an approximate 40% share of the UK magazine market, including titles such as 'Radio Times', 'Take A Break' and 'Good Housekeeping'. The contract is a further endorsement that Smiths News' leading service offer continues to provide the most efficient route to market for UK publishers. Together with the recently announced contract secured with News UK (publisher of 'The Sun' and 'The Times' newspapers), Smiths News has now renewed two of its largest newspaper and magazine contracts, amounting to 30% of its total sales revenues.
Jos Opdeweegh, Chief Executive Officer, commented:
"We are delighted to confirm this new agreement with Frontline. Long term partnerships are central to our business model, allowing us to drive efficiencies and deliver great service for publishers, retailers, and ultimately for millions of consumers across the UK."
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 |