Shares in focus: Defying the prophets of doom

Not many held out much hope for news distributor Smiths. They were wrong, says Phil Oakley.

Britain’s largest distributor of newspapers and magazines has never been seen as a glamorous business to own. That said, Smiths News has treated its long-term shareholders well. When investing, dull can be good.

Since Smiths News was spun off from WH Smith in 2006, many have viewed the company as a boring firm in a declining industry. There’s nothing exciting about charging around in the middle of the night making sure that supermarkets and newsagents get their newspapers and magazines at 6am.

Profit [...]

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