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Distribution solutions group Connect said that Smiths News had agreed a new long-term contract with The Telegraph, running from Oct 2019 through to Sep 2024, covering the distribution of The Daily Telegraph and Sunday Telegraph.
The scope of the agreement would cover all of Smiths News' existing distribution territories with The Telegraph, securing annual revenues in excess of £100m at current market values, and accounting for circa 15% of its newspaper sales, the company added.
Following other recently announced agreements, Smiths News had now secured 80% of its total newspaper and magazine revenues under new long term contracts until at least 2024, the company said.
At 8:55am: (LON:CNCT) Connect Group PLC share price was -0.3p at 38.7p