Smiths News
SNWS · Main Market · Industrial Goods and Services · mcap £184m · 74.4p
Smiths News distributes newspapers and magazines from publishers to retailers across the UK, earning fees on volumes handled. It is adding services such as early-morning supply chain work and collectables to offset the long decline in print volumes.
The case for
- 96% of newspaper and magazine revenue is under contract to 2029, with extensions to 2037 on new deals. 19 Mar 2026 17 Jul 2026
- New contracts add about £125m, £105m and £105m of annual revenue from 2027-2030. 17 Jun 2026 29 Jun 2026 17 Jul 2026
- The balance sheet moved to net cash of £7.8m at the half year, and dividends have grown. 6 May 2026 4 Nov 2025
- Profit has been stable at £37-39m and results met or beat expectations. 5 Nov 2024 4 Nov 2025 29 Sep 2026
The case against
- Revenue is falling: £1,104m in FY2024, £1,064m in FY2025, and down 3.9% in H1 FY2026. 4 Nov 2025 6 May 2026
- The national network build brings execution risk, and the benefit is not expected before FY2028. 17 Jun 2026 29 Sep 2026
- FY2026 profit is helped by one-off events such as the World Cup, and expectations fell to £37.2m from £38m+. 29 Sep 2026 23 Sep 2025
- The Pensions Regulator warning notice could lead to a financial support direction on a former subsidiary's scheme. 23 Feb 2026
Both sides use only facts from the company's announcements · not investment advice
Company filings. Not investment advice.