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Regulatory Story
Company Connect Group PLC
TIDM CNCT
Headline Contract Award with Marketforce (UK) Ltd
Released 07:00 09-Apr-2019
Number 5045V07

RNS Number : 5045V
Connect Group PLC
09 April 2019
 

 

Connect Group PLC

("the Group" or "Connect Group")

 

Smiths News agrees new long term contract with Marketforce (UK) Limited ("Marketforce")

 

 

Connect Group is pleased to announce that Smiths News has agreed a new long term contract with the magazine distributor Marketforce. The agreement secures all Smiths News' distribution territories with Marketforce from 2020 through to 2025, representing revenues of circa £130m.p.a. at current market values.

Marketforce is part of TI Media Limited and its portfolio accounts for approximately 38% share of the UK magazine market. As well as representing TI Media, Marketforce distributes on behalf of publishers such as Hello!, DCThomson and Future Publishing. In addition, Marketforce is the largest distributor of collectables to the UK newstrade.

Together with other recently announced contract awards, Smiths News has now renewed agreements representing 98% of its magazine sales and 65% of total sales revenues.

 

Jos Opdeweegh, Chief Executive Officer, commented:

"We are delighted to confirm this new agreement with Marketforce, which represents a milestone in our strategy to accelerate the renewal of our key contracts.  We have now absolute clarity on the magazine footprint and I'm confident that our constructive discussions with the remaining publishers will soon ensure the same for the remaining newspaper contracts."

 

Enquiries:

Connect Group PLC

Jos Opdeweegh, Chief Executive Officer

Tony Grace, Chief Financial Officer

 

01793 563641

www.connectgroupplc.com


Buchanan

Richard Oldworth / Jamie Hooper

connect@buchanan.uk.com
www.buchanan.uk.com

 

020 7466 5000


Person responsible for arranging release of this announcement:

Stuart Marriner
General Counsel & Company Secretary
Connect Group PLC

Rowan House

Cherry Orchard North

Kembrey Park

Swindon

SN2 8UH


email: cosec@connectgroupplc.com
LEI: 2138004O33ONVOOQXB02


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