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.
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