Smiths News Explained

Smiths News PLC
Former Name:Smiths News PLC
Type:PLC
Industry:Distribution
Founded:2006
Founders:-->
Hq Location City:Swindon
Hq Location Country:United Kingdom
Areas Served:-->
Key People:David Blackwood, (Chairman)
Jonathan Bunting, (CEO)
Products:Newspapers and magazines, consumables, books
Revenue: £1,091.9 million (2023)[1]
Operating Income: £38.8 million (2023)
Net Income: £25.1 million (2023)
Brands:WHSmith News, WHSmith Travel
Services:Books, stationery, newspapers, convenience food

Smiths News is a distributor of newspapers, magazines, books and consumables, headquartered in Swindon, England. It is a constiuent of the FTSE SmallCap Index

History

The company, originally established as "WHSmith News", was renamed Smiths News PLC on its demerger from WHSmith on 1 September 2006.[2]

In April 2014, the company rebranded as Connect Group PLC to reflect the diversity of the company's markets.[3]

The company purchased Tuffnells Parcels Express for more than £100m in November 2014[4] but, after several years of poor performance under the group's stewardship, sold it for £15m in April 2020.[5]

In October 2020 Connect Group PLC changed its name back to Smiths News PLC.[6]

Notes and References

  1. Web site: Annual Report 2023. Smiths News. 7 February 2024.
  2. News: WH Smith to demerge news distribution next month with one-for-one share plan. 27 June 2006. CityWire. 7 February 2024.
  3. News: Smiths News to be rebranded as Connect, severing its print history. 18 March 2014. The Guardian. 7 February 2024.
  4. News: Connect Group acquires Tuffnells Parcel Express. 12 November 2014. The Telegraph. 7 February 2024.
  5. News: Connect Group to sell Tuffnells in £15m deal. 15 April 2020. Insider Media. 7 February 2024.
  6. Web site: Rebranded Smiths News reports 51% fall in profits amid pandemic. 12 November 2020. Mediashotz. 7 February 2024.