No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Newspaper and magazine distributor Smiths News said on Wednesday that full-year adjusted operating profits were expected to be at least 38.2m, in line with current market expectations.
Smiths News said moderate revenue growth of 1.1% was supported by additional sales volumes attributed to the men's UEFA European Championships, cover price inflation, ongoing traction from organic growth initiatives, and an additional week of trading in FY24.
The London-listed group also noted that management had continued to focus on operational efficiencies throughout FY24, delivering cost savings of 5.6m, in line with budgets, and said growth initiatives had delivered "an increasing contribution to profit", in line with expectations.
Smiths will report further on its performance and strategic progress in its FY24 results, which will be published on 5 November.
As of 0925 BST, Smiths shares were down 1.05% at 56.60p.
Reporting by Iain Gilbert at Sharecast.com
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.