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16 Jan 2025 07:00
16 January 2025
Smiths News PLC
("Smiths News" or the "Company" or the "Group")
Trading Update
Smiths News, (LSE: SNWS), the UK's largest news wholesaler and a leading provider of early morning end-to-end supply chain solutions, today provides shareholders with an update on trading ahead of its Annual General Meeting taking place this morning.
The Board confirms that trading for the year ending 30 August 2025 ("FY25") remains in line with market expectations1.
The Company also confirms that, subject to shareholder approval at the AGM later today, it will pay a final dividend of 3.4p and a special dividend of 2.0p to shareholders on 6 February 2025 in a manner consistent with the Group's capital allocation policy, bringing the total for FY2024 to 7.15p per ordinary share held.
As previously announced, following the signing of an agreement with Reach PLC, Smiths News has now formally secured long-term contracts representing 91% of its newspaper and magazine revenues to at least 2029, providing a strong foundation to support its growth ambitions in the medium-term.
Furthermore, the Company continues to leverage its leading early-morning, end-to-end supply chain market capabilities and management look forward to providing an update at the half year results.
Jon Bunting, Chief Executive Officer of Smiths News, commented:
"The business has continued to perform well since the start of the year, and we remain on track to meet market expectations.
"Alongside ensuring we continue to deliver a first-class service to our newspaper and magazine customers, we remain focused on further capitalising on our proven early morning capabilities in order to further enlarge our operational footprint.
"I look forward to updating shareholders on our progress at the half year results in May."
1 Company compiled analyst consensus can be found on the Smiths News website: Analyst Consensus
For further information, please contact:
Smiths News PLC Jonathan Bunting, Chief Executive Officer Paul Baker, Chief Financial Officer www.smithsnews.co.uk
| via Vigo Consulting |
Vigo Consulting Jeremy Garcia / Fiona Hetherington / Verity Snow smithsnews@vigoconsulting.com
| Tel: +44 (0) 20 7390 0230 |
About Smiths News
For over 200 years, Smiths News has been delivering newspapers to retailers across the UK. It distributes newspapers and magazines on behalf of the major national and regional publishers, delivering to approximately 22,500 customers across England and Wales on a daily basis. The speed of turnaround and the density of Smiths News' coverage is critical to one of the world's fastest physical supply chains.
For more information, please visit: www.smithsnews.co.uk
Person responsible for arranging release of this announcement:
Stuart Marriner, General Counsel & Company Secretary
Smiths News plc, Rowan House, Cherry Orchard North, Kembrey Park, Swindon SN2 8UH
Email: cosec@smithsnews.co.uk
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