17th Oct 2022 13:24
(Alliance News) - Smiths News PLC on Monday said it has secured two long-term contracts with magazine distributors Frontline and Seymour from 2025 through to 2030.
Shares in the Swindon, England-based newspaper and magazine wholesaler were up 6.1% to 33.42 pence each in London on Monday afternoon.
Smiths News explained that the new agreements secure all of the company's current distribution territories in the UK from 2025 through to 2030 with Frontline and Seymour. It noted that this represents revenue of around GBP180 million per year at current market values.
"Combined, the Frontline and Seymour portfolios account for over 50% of the UK magazine market and include titles such as 'Radio Times', 'Take A Break' and 'TV Choice'," the company said.
It added that the new contracts are "an endorsement of the future of the printed magazine category" and confirms the company's position as the "UK's foremost route to market for publishers."
Chief Executive Jon Bunting said: "Long term partnerships with publishers and distributors are central to our business model and allow us to continue to drive efficiencies and deliver great service for publishers, retailers, and ultimately for millions of consumers across the UK."
By Sophie Rose; [email protected]
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