Smiths News in regional press contract gains

Newspapers and magazines wholesaler Smiths News plc announced additional regional press contract gains with Northcliffe and Newsquest.

The group said it had expanded its regional footprint with Northcliffe in Leicester, Lincoln, Tamworth, Leek and Uttoxeter and secured additional distribution business in Swindon with Newsquest.

Both contracts are due to start before the end of the year and are expected to generate around £7m of additional annual revenue.

CEO Mark Cashmore said, 'Smiths News is now the largest distributor of regional press in England and Wales with over £75m of revenue and we are delighted to have increased our market share with both Northcliffe and Newsquest.'

The shares were up 1.5p at 109.5p.

Story provided by StockMarketWire.com

13/12/2010