Smith on course for 'top end' profit rise
Wednesday 11 July 2012
Shares in the newspapers and books distributor Smith News jumped more than 5 per cent yesterday as it said annual profits in the year to August should be at the top end of expectations.
Book sales are up by a third, helped by its acquisition of the educational goods supplier The Consortium, and newspaper cover price rises had "largely offset" falls in circulation. Total revenues for the 44 weeks to 7 July rose 3.3 per cent.
Liberum Capital raised its profit forecast for Smith by 4 per cent.
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