WH Smith continues to see increased profits
WH Smith has seen profits rise by 5% for the six months to the end of February to £69m. The company said its strategy of increasing profit margins to offset falling sales continued to show results.
They said railway and airport outlets were performing well, saw a 7% increase in profits. This offsets the High Street outlets, where profits rose by just 2%.
WH Smith’s chief executive, Kate Swann said: “We expect the trading environment to remain challenging. However, the business is in good shape and is well positioned for continued growth in both the UK and internationally.”
WH Smith was once one of the biggest retailers in the UK, and one of the biggest companies with a place among the top 100. The company remains to be one of the country’s best known retailers, but has struggled to find its place on the High Street as online retailing grew, which affected its role as a book and music seller.
WH Smith is expanding internationally and plans to open 30 kiosks in China.