Smiths News PLC (GB:SNWS) has released an update.
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Smiths News PLC, the UK’s leading distributor of newspapers and magazines, reports a solid interim performance for the 26 weeks ended 24 February 2024, with revenues of £539.8 million and an adjusted operating profit of £18.8 million. Despite a slight revenue decline due to previous period high-sales events, the company has achieved a significant reduction in debt and interest costs thanks to successful debt refinancing. Shareholders can anticipate a 25% increase in interim dividends, and the company’s outlook remains positive with expectations of a strong second half bolstered by the UEFA European Championships and ongoing growth strategies.
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