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22 Oct 2008 08:42
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For Immediate Release |
22Β October 2008 |
Smiths News PLC
Response to OFTΒ announcementΒ
Smiths NewsΒ notes today's announcement by the OFTΒ with regard to theΒ Industry Code of Practice for the Supply of Newspapers.Β
The Company will be attending a presentationΒ given by the OFTΒ regarding the key aspect of the finding today at 12.30pm and willΒ respondΒ in due course.
Mark Cashmore, Chief Executive of Smiths News commented:
"We have always maintained throughout this process that we welcome and support any additional clarity thisΒ reviewΒ bringsΒ to our industry.
"The OFT's review is a substantial and detailed document that requires careful considerationΒ butΒ on initial reflectionΒ today's announcement does not change the direction and priorities we have set for the business."
Enquiries:
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Smiths News Mark Cashmore, Chief Executive Alan Humphrey, Finance Director |
Tel: 01793 563641 |
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Buchanan Communications Tim Thompson / Jeremy Garcia |
Tel: 020 7466 5000 |
About Smiths News:
Smiths News is theΒ UK's leading wholesaler of newspapers and magazines. The Group was formed on 1 September 2006 following the demerger of WH Smiths 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 22,000 customers acrossΒ EnglandΒ andΒ Wales, supplying large general retailers as well as smaller independent newsagents.
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.
Smiths News has an approximate 40 per cent share of the magazine wholesaling sector and an approximate 35 per cent share of the newspaper wholesaling sector in theΒ UK.
Smiths News has 44 distribution centres acrossΒ EnglandΒ andΒ Wales, employing 4,100 staff.
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