Business
News International Update
News International Update.
About this update from Smiths News Plc
[{"type":"text","content":"\n \nRNS Number : 0188K Smiths News PLC 08 July 2011 \n \n\n\n\n\n\nFor immediate release\n\n\n8 July 2011\n\n\n\n\n \n \n \nSmiths News PLC\n \n \nSmiths News PLC (\"the Group\"), the UK's leading wholesaler of newspapers, magazines and books, notes the recent decision by News International to cease production of its UK weekly national newspaper the News of the World from Sunday 10 July 2011.\n \nDespite this unprecedented step by the board of News International, Smiths News expects that a combination of significant buyer substitution and the Groups flexible cost base will result in minimal financial impact.\n \nThe Group remains confident it will deliver growth in pre-tax profits for the full year ending 31 August 2011 in line with market consensus.\n \n \nEnquiries:\n\n\n\n\nSmiths News PLC\n\n\nTel: 01793 563641\n\n\n\n\nMark Cashmore, Group Chief Executive\n\n\n\n\n\n\n\nNick Gresham, Chief Financial Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBuchanan Communications\nJeremy Garcia / Mark Edwards\n\n\nTel: 020 7466 5000\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAbout Smiths News PLC:\n \nSmiths News PLC comprises Smiths News, the UK's leading wholesaler of newspapers and magazines and Bertrams, a leading UK book wholesaler. \n \nSmiths News distributes newspapers and magazines on behalf of all the major national publishers as well as a large number of regional publishers. The business serves approximately 30,000 customers across England and Wales, supplying large general retailers as well as smaller independent newsagents. Smiths News has an approximate 55% share of the newspaper and magazine wholesaling market in the UK. In addition to its distribution activities, Smiths News collects and processes returns, supplies sales information to publishers and provides a range of services for its retail customers.\n \nBertrams, which was acquired on 20 March 2009, supplies books to a mix of independent booksellers, on-line and multiple retailers, and libraries.\n \nThe Group operates from 59 distribution centres across England and Wales, and employs approximately 5,300 staff.\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCRRMBTMBTMTBB \n ","length":5564,"tagName":"div"}]