Smiths News PLC (LSE:SNWS) shares edged higher as the company announced a new five-year contract with the magazine distributor Marketforce (UK) Limited, part of Future PLC (LSE:FUTR).
In a statement, Smiths News said the new agreement secures all territories in the UK with Marketforce through to 2029, representing 31% of magazine revenues and 9% of its total overall.
Together with other recently announced contract awards, Smiths News added it had now renewed agreements representing 74% of its current newspaper and magazine revenues.
Jon Bunting, chief executive, said: “Having now secured all of our major magazine contracts we remain confident that we will reach similar agreements with the remaining newspaper contracts."
Shares rose 1.3% to 47p.