12th Oct 2018 12:22
LONDON (Alliance News) - Specialist distributor Connect Group PLC said Friday said its magazine wholesales business, Smiths News, has agreed a five-year contract with Frontline Distribution Ltd.
Connect said the deal has secured all of the Smiths News distribution territories with Frontline from 2020 to 2025. These territories, according to Connect, represent revenue of approximately GBP150 million per annum.
The value of the contract has not been disclosed, and follows a recent contract with News Corp UK & Ireland Ltd, which publishes The Sun and The Times newspapers. The News UK and Frontline deals mean that Smiths News has renewed its two largest contracts, which contribute 30% of its sales revenue.
"Long term partnerships are central to our business model, allowing us to drive efficiencies," said Connect Chief Executive Jos Opdeweegh.
Shares in Connect were up 3.7% at 31.69 pence on Friday.
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