Smiths News has reported a “solid” first-half performance despite continued declines in print sales, with the wholesaler pointing to strong collectables demand, growth in recycling services and the upcoming FIFA World Cup as key drivers for the remainder of the year.
The company, which supplies newspapers and magazines to more than 22,000 retailers across England and Wales, said revenues for the 26 weeks ended 28 February 2026 fell 3.9 per cent to £515.7 million, in line with historic print market trends. Adjusted operating profit dipped 5.7 per cent to £18.3m, while adjusted profit after tax edged down to £12.7m from £13.1m a year earlier.
Smiths News said newspapers and magazines continued to perform “in line with expectations”, while collectables remained a bright spot, helped by strong demand for Pokémon products and football-related trading cards.
The group said collectables revenue increased 13.3 per cent during the period, supported by the popularity of Pokémon and new distribution agreements with additional stores across four major supermarket chains.
Chief executive Jonathan Bunting said the business had seen “positive momentum across the business”.
“Our newspaper and magazine operations continue to perform in line with expectations, while opportunities in our growth verticals are gaining traction,” he said. “During the period, we secured our largest book delivery contract to date and made further progress in expanding our recycling activities.”
Smiths News said revenues from growth verticals, including recycling and final-mile logistics, rose 35 per cent year-on-year, with recycling revenues alone increasing by more than 50 per cent.
The company also revealed it is trialling vape recycling services, WEEE recycling and coffee cup collections as it looks to broaden its recycling offer.
In books and logistics, Smiths News said it is now delivering around 30,000 books a week and has secured a multi-year overnight delivery contract with an international optical and hearing care provider, covering more than 580 stores nationwide.
The wholesaler said it had now secured 96 per cent of existing publisher revenues through to 2029 following the renewal of a long-term contract with Guardian Newspaper Group.
Looking ahead, the company said it expects full-year results to be in line with market expectations, supported by continued collectables demand tied to the Pokémon 30th anniversary and this summer’s football World Cup.
Smiths News also declared an unchanged interim dividend of 1.75p per share, payable on 3 July.