Smiths News in profits surge
11 April 2012
Profits are booming at newspapers and books distributor Smiths News as it grabs market share and benefits from the popularity of internet retailer Amazon.
Chief executive Mark Cashmore today reported a 15% jump in adjusted pre-tax profits to £35 million in the year to August 31.
Revenues leapt 38% to £1.83 billion following last year's takeover of rival Dawsons.
Smiths is benefiting from consolidation and winning new business from regional newspapers. Books subsidiary Bertram now gets 39% of its business from Amazon.
