Contract Award with Seymour Distribution Limited
Updated : 13:02
Connect Group PLC
("the Group" or "Connect Group")
Smiths News agrees new long term contract with Seymour Distribution Ltd ("Seymour")
Connect Group is pleased to announce that Smiths News has agreed a new long term contract with Seymour. The agreement secures all Smiths News' distribution territories with Seymour from 2020 through to 2025, representing revenues of circa £79m per annum at current market values.
Seymour is one of the largest importers of magazines into the UK with a portfolio that accounts for approximately 21% share of the UK magazine market. Together with the recently announced long term contracts secured with News UK and Frontline, Smiths News has now renewed three of its largest newspaper and magazine contracts, amounting to 36% of its total sales revenues and 61% of its magazine revenues.
Jos Opdeweegh, Chief Executive Officer, commented:
"I am delighted to confirm this new agreement with Seymour, one of our largest magazine partners. At our preliminary results, we identified the renewal of our distribution contracts as a key priority for FY2019. This contract maintains the momentum, supporting our goal of delivering sustainable value from the Smiths News business."
Enquiries:
Connect Group PLC Jos Opdeweegh, Chief Executive Officer Tony Grace, Chief Financial Officer |
01793 563641 |
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Buchanan Richard Oldworth / Jamie Hooper |
020 7466 5000 |
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