Smiths News PLC (GB:SNWS) has released an update.
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Smiths News PLC, the UK’s premier newspaper and magazine distributor, reported a resilient interim financial performance for the 26 weeks ending 24 February 2024, with revenues slightly down by 1.9% at £539.8m and an adjusted operating profit of £18.8m. The company successfully completed a debt refinancing, which, along with a robust trading performance, positions it to meet full year market expectations and benefits from operational efficiencies and contract renewals. The interim dividend increased by 25% to 1.75 pence per share, reflecting the company’s strong cash generation and the board’s confidence in the growth strategy moving forward.
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