30th Aug 2018 08:54
LONDON (Alliance News) - WH Smith PLC said Thursday it expects its financial results for the year to the end of August to be in line with expectations, as it delivered cost savings in its High Street business.
The books and stationary retailer said its High Street business, the weaker of its two arms, is performing in line with expectations as it improved margins and cut costs in line with its "profit focused strategy".
"We continue to invest in our new store format trials and have developed further our stationery ranges," the company added.
The company's Travel business continued to perform "strongly" across all channels, the retailer said. The Travel unit opened eight stores at the Madrid airport in August and six in Rio de Janeiro. WH Smith now operates 286 travel stores outside of the UK.
WH Smith said it will publish its results for the financial year to August 31 on October 11. For the year to August 2017, the company recorded pretax profit of GBP140 million on revenue of GBP1.23 billion.
WH Smith shares were trading up 0.5% at 2,062.00 pence each early Thursday morning.
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