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Smith News bolstered by books as newspapers decline

Smith News, which has a Team Valley base, has revealed a decline in revenues across its newspaper wholesale business.

The company said declines of 3.2% and 4.6% on a like-for-like basis were in line with expectations, but reported a strong set of results from its book business, Bertrams.

Revenue increase of 11.2% and 2% on a like-for-like basis were fuelled by the success of the Group’s new online book marketplace, Wordery.

Smith News has also extended its c£213m wholesaling agreement with Associated Newspapers Ltd, the publishers of the Daily Mail and Mail on Sunday.

A c£109m deal with magazine distributor COMAG, who deal with the likes of Cosmopolitan and Vogue, will be extended by five years. Smith say the deal equates to 19% of the national magazine distribution market.

This was posted in Bdaily's Members' News section by Tom Keighley .