Smith News sees PTP growth
Smiths News, the largest UK newspaper and magazine wholesaler, remains on track to deliver strong growth in pre-tax profits for the year to 31 August 2012, in line with market consensus.
Smiths News, the largest UK newspaper and magazine wholesaler, remains on track to deliver strong growth in pre-tax profits for the year to 31 August 2012, in line with market consensus.
During the 18 week period to 7 January 2012 revenues increased 1.9% year on year, boosted by contributions from the newly acquired Dawson Books, Dawson Media Direct and Dawson Marketing Services divisions.
Trading performance of the Dawson businesses are in line with expectations and integration is progressing well, the firm said. Full year synergy benefits of £2.5m are on track.
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
However, Smiths News' revenues declined 3.2% on a like-for-like (LFL) basis, although this is an improvement on recent run rates and compares with a decline of 3.5% for the second half 2010/11. Newspaper performance has been stronger in the period as a result of cover price increases, with magazine performance broadly in line.
Bertrams' revenues declined 0.6% on a LFL basis, also an improvement on the most recent run rate decline of 1.4% for the second half 2010/11. A good start to the period in question was softened by more difficult Christmas trading, the firm added.
The share price rose 3.25% to 79.5p by 13:06.
NR
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Water bills set to rise by 21% a year – how to cut costs
Households could see their water bills soar by roughly 21% annually, but suppliers warn it’s not enough to address essential repairs.
By Oojal Dhanjal Published
-
Should you invest in Canada?
Canada presents a compelling opportunity for investors who want to look beyond the US. Greg Eckel of Canadian General Investments highlights four favourites
By Greg Eckel Published