9 Apr 2019 07:00
Connect Group PLC
("the Group" or "Connect Group")
Smiths News agrees new long term contract with Marketforce (UK) Limited ("Marketforce")
Connect Group is pleased to announce that Smiths News has agreed a new long term contract with the magazine distributor Marketforce. The agreement secures all Smiths News' distribution territories with Marketforce from 2020 through to 2025, representing revenues of circa £130m.p.a. at current market values.
Marketforce is part of TI Media Limited and its portfolio accounts for approximately 38% share of the UK magazine market. As well as representing TI Media, Marketforce distributes on behalf of publishers such as Hello!, DCThomson and Future Publishing. In addition, Marketforce is the largest distributor of collectables to the UK newstrade.
Together with other recently announced contract awards, Smiths News has now renewed agreements representing 98% of its magazine sales and 65% of total sales revenues.
Jos Opdeweegh, Chief Executive Officer, commented:
"We are delighted to confirm this new agreement with Marketforce, which represents a milestone in our strategy to accelerate the renewal of our key contracts. We have now absolute clarity on the magazine footprint and I'm confident that our constructive discussions with the remaining publishers will soon ensure the same for the remaining newspaper contracts."
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.comwww.buchanan.uk.com |
020 7466 5000 |
Person responsible for arranging release of this announcement:
Stuart MarrinerGeneral Counsel & Company SecretaryConnect Group PLC
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email: cosec@connectgroupplc.comLEI: 2138004O33ONVOOQXB02