Trading performance delivers results ahead of market expectations. Smiths News has identified several growth initiatives that build on its expertise in warehousing, reverse logistics and early morning final mile services, across its extensive high-density UK delivery network. This ties in with the Company’s vision to consolidate their position as one of the UK’s leading providers of early morning end to end supply chain solutions.

Jonathan Bunting, Chief Executive Officer, commented:

“Our performance over FY 2024 reflects the resilience of our news and magazines business and impact of our cost efficiency initiatives. The refinancing agreement announced in May removes restrictions on shareholder returns and also enables internal investment to support both our news and magazines business and our growth plans.

“Our growth programme is centred around Smiths News’s asset-light, flexible cost base and our established competencies across reverse logistics, warehousing and early morning final mile services. These position us well to drive profitability from complementary market opportunities in growth areas such as recycling, final mile and warehousing verticals.

“We have today announced both a final ordinary dividend of 3.4 pence per share, and a further special dividend of 2.0 pence per share. This means that we propose to return over £17.2m to our shareholders in respect of FY 2024.

“In summary, Smiths News is well placed to continue to deliver a resilient performance over the medium term. Meanwhile, the combination of the recently announced investment programme and dividend policy demonstrates our ability to meet the ongoing needs of the business while providing attractive cash returns to shareholders.”