Smiths News trades on a P/E of just 4x in FY22e and yields an attractive 6%. In this interview, Smiths News CEO Jon Bunting discusses FY21, the impact the pandemic has had on the business and how it may affect the print market in the longer term. He goes on to discuss labour and costs issues, which have affected many businesses as well as Smiths News. He also gives an update on the company’s progress on its strategic journey, its approach to ESG issues and how cash generation is opening up different opportunities for reinvestment in the business and/or shareholder returns. Finally, he concludes with some interesting statistics that may surprise some readers.