Smiths News to launch 'flagship' Brum depot
Wholesaler Smiths News is set to open a new flagship depot in Birmingham next year, replacing five regional hubs.
In its preliminary year-end results, the company said the move was part of its target to make at least £10m of savings over the next two years.
The Birmingham deport is set to open in spring 2012, consolidating five sites. It is not yet known if any jobs will be gained or lost by the move.
Smiths News said that along with its decision to consolidate its operations in Birmingham, its recent organisation review identified a further £3m of central savings.
It added: "Further network and process savings are planned giving us a clear flight-path to achieving the target."
In its preliminary results, which were released yesterday (Thursday), Smiths News said it had increased pre-tax profits by 10 per cent by cutting costs of £22m.
The wholesaler of newspapers, magazines and books also said it is looking to acquire "carefully selected targets" in specialist distribution markets.
