Smiths News PLC (LSE:SNWS) shares ticked up after the newspaper distributor reported an increase in revenue for the year on Wednesday, in part driven by this summer’s Euros.
Alongside cover price inflation, Smiths said the European football tournament aided a 1.1% increase in revenue this year.
This left adjusted operating on profit on course to meet market expectations of £38.2 million, the company added in a statement.
“I am pleased with the group's performance across the second half of the year as we continued to deliver on our core strategy," chief executive Jonathan Bunting said.
Smiths noted cost savings of £5.6 million had been delivered in line with this, with a full-year dividend set to be paid under a revised capital allocation plan.
“With the business making progress in line with our plans and our growth initiatives continuing to have positive momentum, I look forward to providing a more detailed update at the company's full-year results in November,” Bunting added.
Shares climbed 1.8% to 58.2p on Wednesday.