Smiths News PLC - Swindon, England-based newspaper and magazine wholesaler - Says full-year financial performance will be in line with market expectations after "robust" first half. Expects adjust earnings before interest, tax, depreciation and amortisation to be GBP20.5 million in six months ended February 27. Adjusted Ebitda in all of financial 2020 was GBP39.1 million. After strong cash generation in the first half, net bank debt is GBP71 million, giving a debt to adjusted Ebitda ratio of 1.9 times. Smiths News will provide an update on when it will reinstate dividends at its interim results in May.
Current stock price: 29.74 pence, up 5.5% on Wednesday
Year-to-date change: up 0.8%
By Tom Waite; thomaslwaite@alliancenews.com
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Smiths News (SNWS)