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Connect Group inks long-term contract with newspaper publisher Reach

Monday, 11th February 2019
Connect Group said its Smiths News unit agreed a new long-term contract with newspaper publisher Reach that secured annual revenues of around £220m at current market values.

The contract ran from October through to September 2024 and encompassed all of Smiths News' distribution territories.

'The accelerated renewal of Smiths News' contracts is a strategic priority and we have now secured approximatively 54% of our sales, including our largest newspaper and magazine partners,' chief executive Jos Opdeweegh said.

'We are confident our remaining contracts can also be agreed, underpinning our plans for a sustainable recovery in the performance of the group.'

At 2:55pm: (LON:CNCT) Connect Group PLC share price was +0.65p at 38.05p

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