Shares in WH Smith rose 5% yesterday after the retailer posted a 9% rise in profits to £112m as revenues continued to decline.
Revenues declined by 2.1% to £1.6bn, but the group’s strategy of shifting to more profitable lines and a focus on ‘travel stores’ helped boost profitability.
WH Smith now has 725 ‘travel stores’ at train stations and airports, which generated record profits of £73m, a rise of 11%.
Financial Times, 23
Daily Telegraph Business, 4
Times, 51
Shares in WH Smith rose 5% yesterday after the retailer posted a 9% rise in profits to £112m as revenues continued to decline.
Revenues declined by 2.1% to £1.6bn, but the group’s strategy of shifting to more profitable lines and a focus on ‘travel stores’ helped boost profitability.
WH Smith now has 725 ‘travel stores’ at train stations and airports, which generated record profits of £73m, a rise of 11%.
Financial Times, 23
Daily Telegraph Business, 4
Times, 51
