Sparks commentary - Smiths News

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Sparks - Smiths News

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Smiths News (LSE: SNWS) confirms FY24 operating profit to be ‘at least’ in line with market expectations
Published by Andy Murphy

Revenue grew by 1.1% in the period, supported by the men’s UEFA European Championships, cover price inflation, traction from organic growth initiatives and an additional 53rd trading week, and Smiths News also confirmed that FY24 operating profit would be ‘at least’ in line with market expectations of £38.2m. Cost savings of £5.6m were delivered in line with expectations and growth initiatives were delivering an increased profit contribution, again in line with expectations. The company confirmed that following the refinancing earlier this year it would be implementing a revised capital allocation policy, maintaining 2x dividend cover. Preliminary results are due to be released on 5 November.

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