Historic South West newspaper wholesaler Smith News has said profits will likely be ahead of market expectations after "strong" second-half trading.
Swindon-based Smiths News said its positive performance for the six months to the end of August was driven by the news and magazines business, which has been bolstered by strong demand for collectables.
The company also received a final £2.0m dividend from the administrators of McColl’s Retail Group, which collapsed three years ago.
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It added that operational efficiencies had delivered cost savings in line with expectations. Current adjusted operating profit market expectation for the 2025 financial year is £37.2m.
Jonathan Bunting, chief executive of Smiths News, said: “The group’s performance in FY2025 reflects the continued dedication and strategic discipline of our team, maintaining a clear focus on the news and magazines business, whilst extending our market reach in a targeted and sustainable manner.
“As we move into FY2026, the business continues to perform well, and I look forward to sharing a more detailed update on our progress at the company’s full year results in November.”
Smiths News said the board would continue to consider investment in its "core capabilities", potential adjacent market opportunities and further shareholder returns.
The group expects to provide an update on capital allocation and progress with its growth initiatives at full-year results in November.
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In July, Smiths News appointed a new chief financial officer. Richard Clay is expected to join the business "no later" than January 30. The company's former finance chief, Paul Baker, quit to join a large unnamed private firm in another sector.
Last year, the company confirmed it had secured a new long-term contract with Daily Mirror and Daily Express publisher Reach.