28 Apr 2009 07:00
Smiths News PLC
Major Contract Win
Smiths News PLC, the UK's leading wholesaler of newspapers and magazines, is pleased to announce it has successfully negotiated a new five year contract with magazine distributor Marketforce. Marketforce distributes titles for IPC Media and other leading magazine publishers. The total value of the contract is circa £181m per annum.
The new contract will be effective from January 2010 and will generate an annualised increase in sales revenue of circa £44m. Smiths News' market share of Marketforce titles will increase to 55% (currently 39%).
Mark Cashmore, Chief Executive of Smiths News PLC commented:
"We are delighted to win the Marketforce contract, which further validates our strategy of delivering excellent service and scale efficiencies to our customers. This contract means we have secured 90% of the magazine sales in the new areas awarded to us by publishers.
We look forward to working with Marketforce on the implementation of the new contract, ensuring a smooth and professional transition for all concerned."
Enquiries:
| Smiths News PLC | Tel: 01793 563641 |
| Mark Cashmore, Chief Executive |
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| Alan Humphrey, Finance Director |
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| Buchanan Communications | Tel: 020 7466 5000 |
| Tim Thompson |
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| Jeremy Garcia |
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About Smiths News PLC:
Smiths News PLC comprises Smiths News, the UK's leading wholesaler of newspapers and magazines and Bertrams, a leading UK book wholesaler. The Group was formed on 1 September 2006 following the demerger of WH Smith PLC.
Smiths News distributes newspapers and magazines on behalf of all the major national publishers as well as a large number of regional publishers. The business serves approximately 23,000 customers across England and Wales, supplying large general retailers as well as smaller independent newsagents. Smiths News has an approximate 40 per cent share of the magazine wholesaling sector and an approximate 36 per cent share of the newspaper wholesaling sector in the UK.
In addition to its distribution activities, Smiths News collects and processes returns, supplies sales information to publishers and provides a range of services for its retail customers.
Bertrams, which was acquired on 20 March 2009, supplies books to a mix of independent booksellers, on-line and multiple retailers, and libraries. Bertrams has an approximate 45 per cent share of the wholesale book market.
Smiths News PLC operates from 46 distribution centres across England and Wales, and employs 4,600 staff.