CNCT.L Regulatory News (CNCT)

17 Jan 2008 07:00

Smiths News PLC17 January 2008 Smiths News PLC Interim Management Statement Smiths News PLC is today publishing its first Interim Management Statement asrequired by the UK Listing Authority's Disclosure and Transparency rules,relating to the period from 1 September 2007 to 12 January 2008. PERIOD REVIEW Overall revenue for the first 19 weeks of the financial year increased by 0.8%.The Group benefited from a number of newspaper price rises in the early part ofthe financial year. Weekly magazines have traded in line with expectations,whilst in the monthly magazine market volume declines have eased. Planned efficiency and cost saving initiatives for this financial year areproceeding as anticipated. The Group continues to make progress in its strategy to use its competencies towin new contracts: •Smiths News is pleased to announce that it has secured the News International business in Peterborough and Cambridge with effect from 26 December 2007. This business has an annualised sales value of £8m. •The Returns Company has also won a new three-year contract to process around ten million book returns per annum for HarperCollins on a national basis. To further support its new business strategy the Group has made two seniorappointments: Dom McKenna, previously Group Development Director of Arriva plc,has joined the Company as Business Development Director, and Christine Key,currently Commercial Director at Parcelnet will join as Managing Director of TheReturns Company. Trading remains in line with the Board's expectations. Overall, despite ageneral downturn in some retail markets, product categories remain resilientwith price increases offsetting the impact of volume declines. There has been no significant change in the financial position of the Companysince 31 August 2007. INTERIM RESULTS Smiths News PLC will announce its Interim results for the six months ending 29February 2008 on 24 April 2008. Enquiries: Smiths News PLCAlan Humphrey, Investor Relations 01793 563641 Brunswick Group LLPKate Holgate, Media Relations 020 7404 5959 This information is provided by RNS The company news service from the London Stock Exchange