Connect Group PLC Publisher Contract Win (8478B)
October 13 2020 - 1:00AM
UK Regulatory
TIDMCNCT
RNS Number : 8478B
Connect Group PLC
13 October 2020
13 October 2020
Connect Group PLC
("the Company" or "the Group")
Publisher Contract Win
New contract with Associated Newspapers
The Company is pleased to announce that Smiths News has agreed a
new five-year contract with Associated Newspapers, publisher of the
Daily Mail, The Mail on Sunday and the i newspaper. The exclusive
agreement encompasses all our existing distribution territories,
securing annual revenues of circa GBP175m at current market values,
accounting for 15.9% of our sales.
The Company has now secured over 95% of total newspaper and
magazine revenues under new long-term contracts until at least
2024, with the remaining revenues within Smiths News largely
representing smaller publishers and operating on rolling
agreements.
Commenting on today's announcement, Jonathan Bunting, Chief
Executive Officer, said:
' I'm delighted that we have secured a new agreement with
Associated Newspapers, completing our goal of renewing all our
major contracts. The certainty this brings to our network will
underpin our plans for further efficiencies and provides the
Company with good visibility of future revenue and cash flow. '
Enquiries:
Connect Group PLC
Jonathan Bunting, Chief Executive Officer
Tony Grace, Chief Financial Officer
Investor.relations@connectgroupplc.com
www.connectgroupplc.com
Buchanan (Financial PR)
Richard Oldworth / Jamie Hooper
connect@buchanan.uk.com
www.buchanan.uk.com
Person responsible for arranging release of this
announcement:
Stuart Marriner, General Counsel & Company Secretary
Connect Group PLC
Rowan House
Cherry Orchard North
Kembrey Park
Swindon
SN2 8UH
email: cosec@connectgroupplc.com
LEI: 2138004O33ONVOOQXB02
About Connect Group
Connect Group PLC is a UK based specialist distributor. The
Group's core businesses are each leading players in their
markets:
Smiths News is the UK's largest newspaper and magazine
wholesaling business with an approximate 55 per cent. market share.
It distributes newspapers and magazines on behalf of the major
national and regional publishers, delivering to approximately
25,000 customers across England and Wales on a daily basis. The
speed of turnaround in the UK and density of Smiths News' coverage
is critical to one of the world's fastest physical supply
chains.
Dawson Media Direct (DMD) supplies newspapers, magazines and
inflight entertainment technology, to airlines and travel points in
the UK and worldwide. Delivering to strict time windows with
security accreditation, DMD serves circa 115 airports in 47
countries.
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END
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October 13, 2020 02:00 ET (06:00 GMT)
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