Trading performance delivers results in line with market expectations. Smiths News have secured major contract renewals, with 96% of newspapers and magazines revenues secured until 2029, following the successful renewal of a long-term contract with the Guardian Newspaper Group.

Jonathan Bunting, Chief Executive Officer of Smiths News, commented:

“We are pleased to report a solid start to the financial year, with positive momentum across the business. Our newspaper and magazine operations continue to perform in line with expectations, while opportunities in our growth verticals are gaining traction. During the Period, we secured our largest book delivery contract to date and made further progress in expanding our recycling activities. Importantly, we have now secured 96% of our existing publisher contract revenues through to 2029. This includes the recent renewal of a long-term contract with the Guardian Newspaper Group, further strengthening our revenue visibility and supporting our commitment to delivering high-level service to our newspapers and magazines customers and sustained value for all stakeholders.”