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(Sharecast News) - WH Smith said fullyear pre-tax profit was expected to be around £75m, at the lower end of guidance, reflecting lower trading margins from increased discounts and reduced brand marketing, partly offset by cost and interest savings.
The retailer reported solid fourthquarter revenue during peak summer trading, with strong performances across at UK airports, hospitals and train stations.
Group final quarter like-for-like sales were forecast to rise 2%, with the UK up 4%, rest of the world 3% and North America down 3%.
During the year, the group exited Norway, agreed to exit the Denmark and Sweden markets in early 2027 and will exit the Netherlands on lease expiry in 2027 following a decision not to re-tender the contract.
"This division is being actively managed both to exit unprofitable stores and transition sub-scale markets to a franchise model in order to improve profitability and cash generation," the company said in a trading update.
Reporting by Frank Prenesti for Sharecast.com
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