John Menzies has renegotiated the terms of its contract with the Telegraph Media Group for the distribution of its major UK newspaper titles in the UK and Ireland.
Menzies Distribution, the division of John Menzies that distributes newspapers and magazines, will continue to provide its services to the Telegraph until October 2017.
Under the contract renewal, the company will secure some £75m of annual sales trade value.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"I am very pleased to have secured terms with the Telegraph," said Managing Director of John Menzies, David McIntosh.
"This renewal is a further step in underpinning our core business. With the Telegraph, News International and Marketforce now signed up to long term contracts running through to 2019 we can plan for the future knowing we have a strong core to build from."
Shares rose 0.59% to 764.50p at 08:56 Tuesday.
RD
-
Bitcoin hits new heights - is now a good time to invest?The value of Bitcoin has surged to a 20-month high. Why is Bitcoin rising and is now a good time to invest?
-
Gold hits record high - could it soar higher next year?
The yellow metal has hit a new all-time high. We look at market expectations for 2024, whether investors should sell and take profits, and how to invest in gold.
