- World Cup and coronation boosted revenues
- Balance sheet looking increasingly healthy
Smiths News (SNWS) faces a major structural problem: its core business is in inexorable, though gentle, decline at a time when sales of newsprint are trending ever downwards. Newspapers rely on the company to distribute their products to all outlets, including the key independent market, that still sell them. And a misconceived diversification strategy has left the company with a lot of debt.