WH Smith says it expects strong results for the year

WH Smith announced this morning that it expects positive results for the year ending 31 August. 

 

In a pre-close trading update released today, the British book/newspaper/stationery retailer said its high street, railway and airport businesses had all performed well over the last year. It added that its new store opening programme remains on track, both within the UK and internationally, and that the outcome will be in line with market expectations. 

 

The strong performance is the product of a year of aggressive cost-cutting measures aimed at maintaining profitability as sales edged down. “In the High Street business our focus on gross margin gains and tight cost control continues to deliver a good performance,” the report said. 

 

The results will be released on 16 October. According to a consensus of analysts' forecasts compiled by Bloomberg, a net operating profit of £114.25m is expected.

 

Perhaps this will give the retailer the cash it needs to tackle the problem of its tatty flooring: the company has been famously harangued for the state of its moth-eaten carpets by twitter account @WHS_Carpet, which posts damning photographs of the effects of WH Smith's cost-cutting measures.

 

https://twitter.com/WHS_Carpet/status/500594740937908224