Contract Renewal Reach PLC
Smiths News secures long-term contract renewal with Reach PLC covering all UK distribution territories through 2029.
- Annual revenues from Reach contract c.£160m p.a.
- Percentage of newspaper and magazine revenues secured long-term 91%
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Smiths News, (LSE: SNWS), the UK's largest news wholesaler and a leading provider of early morning end-to-end supply chain solutions, is pleased to announce that it has successfully secured a new long-term contract with Reach PLC ("Reach"), the UK's largest commercial news publisher, publishing over 120 media brands including the Daily Mirror, Sunday Mirror, The Sunday People, Daily Express, Sunday Express, Daily Star, Daily Star Sunday and OK! magazine.
The new contract with Reach, as first referenced in our preliminary financial results published on 5 November 2024, is for all of Smiths News' current distribution territories in the UK through to 2029, representing revenues of c.£160m p.a. at current market values.
Smiths News has now formally secured long-term contracts with 91% of its newspaper and magazine revenues.
Jon Bunting, Chief Executive Officer, commented:
"I am delighted that we have now formally concluded our new contract negotiations with Reach and look forward to ensuring the widespread access and availability of their titles for readers in communities across the UK. The extent of our contracts with major titles continues to demonstrate the pivotal role Smiths News plays in the early morning supply chain.
We have now secured over 90% of our newspaper and magazine revenues through to 2029 which provides underlying revenue stability in addition to creating a robust platform from which to support our growth ambitions for the business."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.