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Pin to quick picksSmiths News Regulatory News (SNWS)

Share Price Information for Smiths News (SNWS)

London Stock Exchange
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Share Price: 58.00
Bid: 57.80
Ask: 58.00
Change: -0.60 (-1.02%)
Spread: 0.20 (0.346%)
Open: 57.60
High: 59.40
Low: 57.60
Prev. Close: 58.60

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Trading Update

24 Jan 2023 07:00

RNS Number : 6075N
Smiths News PLC
24 January 2023
 

24 January 2023

 

 

Smiths News plc

("the Company")

 

Trading Update

 

To coincide with its Annual General Meeting (being held today at 11:30am), the Company is today issuing a trading update.

 

The Board is pleased to report that overall trading in FY2023 to date is in line with market expectations. Revenues in the core business are ahead of historical trends, supported by cover price increases. Inflation continues to be managed in line with our business plan and sustainable efficiency savings and operational cost controls are all collectively on track. The Board remains confident in the Company's profit and cash generation.

 

Significant progress has been made to progress long-term publisher contract renewals, with 46% of newspaper and magazine revenues now secured through to 2029.

 

Management continues to execute our strategy of enhancing core operations while developing adjacent opportunities and moving up the value chain as outlined in our preliminary financial results published on 9 November 2022.

 

Jonathan Bunting, Chief Executive Officer, said:

"We have entered 2023 with confidence that our plans will deliver sustained profit and cash generation. The proposed final dividend of 2.75p payable in February 2023 will reward our shareholders and demonstrate the strong cash flow generation of the business. I am grateful to our people who continue to show exceptional dedication and capability. On behalf of the Board, I would like to express my thanks for their essential contributions to our progress."

 

 

 

Enquiries:

 

Smiths News PLC

Jonathan Bunting, Chief Executive Officer

Paul Baker, Chief Financial Officer

 

Via Buchanan

www.corporate.smithsnews.co.uk

 

Buchanan

Richard Oldworth / Jamie Hooper / Toto Berger

smithsnews@buchanan.uk.com

www.buchanan.uk.com

 

020 7466 5000

 

About Smiths News PLC

 

Smiths News PLC and its core business, Smiths News, is the UK's largest newspaper and magazine wholesaler, with an approximate 55 per cent. market share. It distributes newspapers and magazines on behalf of the major national and regional publishers, delivering to approximately 24,000 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.

 

Ancillary businesses include: Dawson Media Direct (DMD) which supplies airlines and travel points in the UK; and Instore, which offers field marketing services to retailers and suppliers across the 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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END
 
 
TSTEAPFDAENDEFA
Date   Source Headline
2nd Oct 20247:00 amRNSPost Close Trading Statement
2nd Sep 20249:46 amRNSBlock listing Interim Review
2nd May 20247:00 amRNSRefinancing Agreement
2nd May 20247:00 amRNSHalf-year Report
18th Apr 20247:00 amRNSNotice of Results
1st Mar 20248:18 amRNSBlock listing Interim Review
31st Jan 202412:55 pmRNSResult of AGM
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15th Dec 20233:04 pmRNSHolding(s) in Company
15th Dec 20233:00 pmRNSAnnual Financial Report
11th Dec 20234:22 pmRNSDirector/PDMR Shareholding
11th Dec 20234:20 pmRNSDirector/PDMR Shareholding
30th Nov 20239:54 amRNSDirector/PDMR Shareholding
23rd Nov 202311:00 amRNSDirector/PDMR Shareholding
17th Nov 20237:00 amRNSContract Renewal with Marketforce
8th Nov 20237:00 amRNSPreliminary Financial Results FY2023
30th Oct 202312:20 pmRNSPresentation via Investor Meet Company
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17th Oct 20237:00 amRNSExtension of News UK Contract to London Areas
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10th Aug 202311:34 amRNSDirector Notification
4th Jul 202311:35 amRNSDirector/PDMR Shareholding
3rd Jul 20235:10 pmRNSHolding(s) in Company
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3rd May 20237:00 amRNSInterim Financial Results
19th Apr 20237:00 amRNSNotice of Interim Results
19th Apr 20237:00 amRNSPresentation via Investor Meet Company
12th Apr 20237:00 amRNSContract Renewal – News UK
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1st Mar 202310:14 amRNSBlock listing Interim Review
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21st Feb 20239:39 amRNSDirector/PDMR Shareholding
13th Feb 202310:30 amRNSDirector/PDMR Shareholding
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21st Dec 20223:53 pmRNSAnnual Financial Report
9th Nov 20227:00 amRNSFY2022 Preliminary Financial Results
28th Oct 20227:00 amRNSPresentation via Investor Meet Company
19th Oct 20227:00 amRNSContract Renewal - Associated Newspapers
17th Oct 20227:00 amRNSContract Renewals - Frontline Seymour
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4th Oct 20229:38 amRNSNotice of Preliminary Results
22nd Sep 20227:00 amRNSPost-Close Trading Update
31st Aug 20225:00 pmRNSBlock listing Interim Review
26th Aug 20223:41 pmRNSHolding(s) in Company

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