World Cup run-up delivers for Smiths News

Newspaper and magazine distributor Smiths News saw revenue soar in the weeks before the World Cup as punters stocked up on football mags.

The revenues were aided by the acquisition of book wholesaler Bertrams. Sales are up rise 38% for the 19 weeks to July 10.

Smiths also pointed to contracts received last year to thank for the bounce.

However, it said newspaper like-for-like sales fell 4.5%, partly because promotional price discounting by the tabloids, while magazine like-for-like revenue was down 1.6%.

Smiths News expects the relocation of Bertram Library Services to Norwich from Leeds to be completed early in the next financial year. It said the move would reduce costs.

The company, which continued to trade in line with expectations, also said it was operating well within its bank facilities.