Business
5yr contract extension with Trinity Mirror PLC
5yr contract extension with Trinity Mirror PLC.
About this update from Smiths News Plc
[{"type":"text","content":"\n \nRNS Number : 3690U Smiths News PLC 02 December 2013 \n \n\nSmiths News PLC\n \nSmiths News agrees five year contract extension with Trinity Mirror PLC\n \nNew contact secures c£143m of annual revenues\n \nSmiths News PLC ('Smiths News'), the largest UK newspaper and magazine wholesaler, a leading UK book supplier and a leading distributor of consumable products to the education market, is pleased to announce it has reached agreement with Trinity Mirror Newspapers to extend their newspaper wholesaling agreement until October 2019.\n \nThis new agreement secures 56% market share of Trinity Mirror's distribution business for an additional five years.\n \nThe contract is valued at c.£143m pa (at FY13 values) equating to 15% of the national newspaper distribution market. Trinity Mirror publishes The Daily Mirror, Sunday Mirror and The People along with Regional titles Newcastle Chronicle, Manchester Evening News, Liverpool Echo and Birmingham Mail. Smiths News has now secured c.£900m per annum of revenues through to 2019 equating to 63% of total sales.\n \nMark Cashmore, Chief Executive Officer, commented\n \n\"Today's announcement extends our relationship with one of our largest newspaper publishers in the UK. Our longstanding relationship with Trinity Mirror has delivered incremental revenue growth over the past 5 years as they have outsourced significant regional business to us. This, coupled with our strong renewal rate, is a clear endorsement of our market leading proposition.\"\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END CNTUAARRONAURUA\n ","length":2141,"tagName":"div"}]