Newspaper distributor predicting profits of £38m

Newspaper and magazine wholesaler Smiths News said that its trading performance in the second half of the year is in line with expectations.

Swindon-based Smiths News said in a trading update adjusted operating profit for the year is expected to be at least £38.3m.

The company said its overall revenue increased by 0.2%, driven by “strong” cover price rises and additional sales from the World Cup and one-off news agents.

Swindon based Smiths News added that securing sustainable operational efficiencies and an improved contribution from adjacent categories has mitigated the impact of inflation.

Jonathan Bunting, chief executive at Smiths News, said: “In what has been a challenging period for the wider economy, our strategy of securing operational efficiencies, while enhancing core operations and developing adjacent revenues, has been central to mitigating the impacts of inflation.

“We remain focused on providing an excellent service to our industry partners and expect to continue delivering a consistent financial performance.”