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Smiths News (SNWS) investor relations material
Smiths News H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2025 earnings summary7 May, 2025
Executive summary
Trading for FY2025 is in line with expectations, with adjusted operating profit up 3.2% and strong cash flow generation.
91% of publisher revenue streams are secured through 2029, providing medium-term revenue stability and supporting strategic expansion.
Growth initiatives in recycling, new categories, and final mile are progressing, supported by operational efficiencies and ongoing investment in technology.
Free cash flow increased to £13.3m, with interim dividend maintained at 1.75p per share.
Board changes include a new non-executive director, CFO transition, and new managing director for recycling.
Financial highlights
Adjusted revenue for H1/HY2025 was £536.4m, down 0.6% year-over-year, outperforming guidance of a 3–5% decline.
Adjusted operating profit rose 3.2% to £19.4m; adjusted EPS up 10.2% to 5.4p.
Free cash flow increased to £13.3m, driven by improved working capital and one-off inflows.
Average bank net debt reduced by 91.2% to £1.1m, with period-end net debt at £12.4m.
Interim dividend of 1.75p per share proposed, with £17.4m total dividends paid in respect of FY2024.
Outlook and guidance
Full-year results are expected to be in line with market expectations, underpinned by stable news and magazines performance.
Cost efficiency programme on track to deliver £5m in annual savings, with inflationary wage pressures expected in H2.
Ongoing investment of £6m per annum over three years in warehouse and transport management systems.
Growth initiatives in recycling, new product categories, and final mile services to be further advanced and updated at year-end.
Assess impact of rising wages on FY25.
How will growth initiatives be advanced?
Explain McColl's administrator dividends.
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Next Smiths News earnings date
H2 20254 Nov, 2025
Next Smiths News earnings date
H2 20254 Nov, 2025
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Frequently asked questions
Smiths News plc, together with its subsidiaries, engages in the wholesaling of newspapers and magazines in the United Kingdom and internationally. It also supplies inflight entertainment to airlines and travel points; and offers field-based merchandising and marketing, supply chain auditing, and compliance solutions. The company was formerly known as Connect Group PLC and changed its name to Smiths News plc in November 2020.
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