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WH Smith first-half profit up 3.75 percent on travel boost
April 12, 2017 / 6:41 AM / 7 months ago

WH Smith first-half profit up 3.75 percent on travel boost

(Reuters) - British books, newspaper and stationery retailer WH Smith Plc (SMWH.L) posted a 3.75 percent rise in first-half pretax profit as its travel business continued to outshine lagging high street or town centre retail operations.

File photo of pedestrians walking past a WH Smith shop in London, Britain October 6, 2008. REUTERS/Alessia Pierdomenico/File Photo

WH Smith, which has more than 1,300 stores mostly in the UK, said profit before tax for the six months to Feb. 28 rose to 83 million pounds from 80 million last year.

Trading profit at its travel business, made up of outlets at airports, railway stations, motorway services, hospitals and workplaces, rose 11 percent to 39 million pounds, helped by an improvement in passenger numbers.

The group, which will celebrate its 225th anniversary this year, said sales fell 4 percent at its high street business, citing tough comparatives from last year, when sales were boosted by the “colour therapy” trend for adult colouring-in books.

Trading profit at its high street business remained flat at 53 million pounds.

Reporting by Rahul B in Bengaluru; Editing by David Holmes

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