Smiths News plans expansion following strong financial performance
Historic magazine and newspaper wholesaler Smiths News is planning to expand its UK operating footprint following a “strong” full-year performance, reports BritPanorama.
The Swindon-based company saw profit after tax rise to £27m from £24.7m the year previously and announced earnings per share of 11.1p, up from 10.3p a year earlier.
The company posted revenues of £1,064m, down 3.6% compared to 2024, but achieved a 16% revenue growth from new verticals, with 93% of revenues secured through to 2029.
Additionally, cash generation rose to £36.1m over the year, from £23.0m the previous year. This included £5.4m from the administrators of McColl’s Retail Group, which went into administration three years ago.
Smiths News expressed expectations for “continued strength” in the collectables market over the new financial year, partly driven by events such as the Men’s Football World Cup and Pokémon’s 30th anniversary.
“I am delighted Smiths News has delivered such a strong financial and operational performance across the year, reinforcing the ongoing confidence we have in our business,” said Jonathan Bunting, chief executive of Smiths News.
“Our strategic priorities remain steadfast as we seek to both leverage and expand our unique UK operating footprint. In addition, our existing capital allocation policy has provided us with the flexibility to invest in our new business verticals alongside distributing funds to shareholders. Finally, I would personally like to thank everyone at Smiths News for their dedication and hard work, which collectively sits at the heart of our ongoing success.”
The company also indicated that its three-year internal investment programme is “advancing as scheduled” to enhance service and efficiency throughout the business.
Smiths News reported a “good start” to trading in the current financial year and anticipates delivering results in line with market expectations, with an adjusted operating profit forecast of £36.7m.
This notable performance highlights the resilience of Smiths News as it navigates a challenging market landscape. With a clear strategy for growth and a strengthened financial position, the company appears well-prepared to leverage upcoming opportunities in the sector.
