Smiths News continued to reap the rewards of the demise of Dawson News, posting bumper rises in sales and profits in its latest full-year results.

New business won from its former rival helped the wholesaler boost revenues by more than a third in the year to 31 August, up 38% to £1.83bn. Pre-tax profits were up by almost 15% to £35m, with book wholesaler Bertrams – snapped up by Smiths in 2009 – also contributing to the bottom line.

Chief executive Mark Cashmore said the combined business would make further savings of £20m over the next three years.

“Our business has made excellent progress over the last 12 months,” Cashmore said. “We continue to deliver on our strategic goals, having completed the integration of the new business and driven a strong performance from Bertrams since its acquisition in 2009.”

He added: “The group remains focused on service and efficiency. Our corporate development strategy is focused on the specialist distribution sectors in which our skill set will enhance value and create competitive advantage.”

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Smiths sales surge despite newspaper slump (15 July 2010)