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.

Target	Promise	Said	Status
2024
FY2024	Deliver FY2024 results in line with market expectations.	8 Nov 2023	✓ Kept
	“We are confident in delivering results for the current financial year in line with market expectations” Result FY2024 profit of £39.1m was ahead of expectations. “Financial performance across FY 2024 ahead of market expectations”5 Nov 2024 · Final Results “Smiths News continued to see robust trading throughout FY 2024, delivering results ahead of market expectations for the period.”5 Nov 2024 · Final Results
FY2024	Organic growth ventures to generate £2.0m profit in FY2024.	2 May 2024	… In progress
	“expected to generate £2.0m of profit in FY2024 versus £0.7m in FY2023” Status so far Not yet due.
2025
FY2025	Deliver about £5m of annual cost savings, including in FY2025.	5 Nov 2024	◐ Partly kept
	“on track to deliver c.£5m of cost savings in FY2025” Also stated 7 May 2025 Status so far On track in May 2025, but later results do not confirm the final figure. “on track to deliver c.£5m of cost savings in FY2025”7 May 2025 · Half-year Results “delivering £4.9m of operational efficiencies in FY2025”4 Nov 2025 · Final Results
2025-11	Update on capital allocation and growth initiatives at November 2025 results.	23 Sep 2025	✓ Kept
	“The Group expects to provide an update on capital allocation and progress with its growth initiatives at full year results in November 2025.” Result November 2025 results lifted dividends to 8.55p and covered strategy. “The Company continues to apply the capital allocation policy which was updated following refinancing in May 2024. With higher profit after tax, the proposed total ordinary dividend increased 8% to 5.55p (FY2024: 5.15p) being 2x cover. A special dividend of 3.0p (FY2024: 2.0p) is also proposed, taking total distributions to 8.55p (FY2024: 7.15p).”4 Nov 2025 · Final Results “Management continues to implement strategy to establish Smiths News as a leading provider of early morning, end-to-end supply chain solutions”4 Nov 2025 · Final Results
2026
FY2026	Deliver FY2026 results in line with market expectations.	4 Nov 2025	✓ Kept
	“The Company has delivered a good start to trading in the current financial year and expects to deliver results in line with current market expectations” Result September 2026 update expects results ahead of expectations. “Trading across FY2026 now expected to be ahead of market expectations”29 Sep 2026 · Post Year-End Trading Update
FY2026	Deliver over £4m of operational efficiencies in FY2026.	6 May 2026	… In progress
	“On track to deliver in excess of £4m of operational efficiencies in FY2026” Status so far Not yet due.
Today · 10 Oct 2026
4 Nov 2026	Give further guidance on the financial effects of all four contracts by 4 November 2026.	29 Jun 2026	… In progress
	“The Board expects to provide further guidance on the financial effects of all contracts in due course and, in any case, at the time of its preliminary financial results on 4 November 2026.” Also stated 17 Jul 2026 Status so far Not yet due.
H2 2026	Start fleet-wide transport management system implementation in H2 2026.	6 May 2026	… In progress
	“fleet-wide transport management system implementation scheduled to commence in H2 2026” Status so far Not yet due.
2027
2027	Raise capital investment by about £2.0m a year over three years, to £6.0m a year.	2 May 2024	… In progress
	“increased investment in the business by approximately £2.0m per annum over that period to £6.0m per annum” Also stated 7 May 2025 Status so far Not yet due.
2027	Manju Malhotra to succeed Mark Whiteling as Audit Committee chair by the 2027 AGM.	7 Jan 2025	… In progress
	“It expected that Ms Malhotra (as chair-designate of the Audit Committee) will succeed Mr Whiteling in due course.” Status so far Not yet due.
2028
FY2028	Network expansion to add to earnings from FY2028.	17 Jun 2026	… In progress
	“be accretive to earnings from FY2028 onwards” Status so far Not yet due.
2028-01	Establish an expanded national distribution footprint, first go-live July 2027, for the News UK and ANL contracts.	17 Jun 2026	… In progress
	“begun its transformational programme to establish a national distribution footprint to service the new contract wins announced in H2 FY2026, ahead of the first go-live in July 2027” Also stated 29 Jun 2026 · 29 Sep 2026 Status so far Not yet due.
2029
2029	Secure long-term contracts to 2029 for most newspaper and magazine revenue, rising from 65% to over 96%.	8 Nov 2023	✓ Kept
	“Smiths News has now formally secured long-term contracts with over 96% of its newspaper and magazine revenues through to 2029” Also stated 5 Nov 2024 · 19 Mar 2026 Result Coverage rose to 74%, 91% and then over 96% after the Guardian renewal. “Following this agreement Smiths News has now formally secured long-term contracts with over 96% of its newspaper and magazine revenues through to 2029.”19 Mar 2026 · Contract Renewal with The Guardian
2037
2037-07	Freeze retailer delivery service charges for the life of the contracts, to 2037.	17 Jun 2026	… In progress
	“The extension also supports retailers through the freezing of delivery service charges for the life of the Contract” Also stated 29 Jun 2026 Status so far Not yet due.