Smiths News lifted by book sales

Newspaper and magazine distributor Smiths News reported a six per cent rise in profits yesterday despite declining print sales, as other areas of the business grew. The firm, which has diversified into book distribution and education, yesterday said revenues in the six months to the end of February were up 1.3 per cent to £904.7m while pre-tax profits hit £19.9m. Smiths announced yesterday that it was expanding its books arm.