WHSmith poised for new chapter
MAGAZINES and books retailer WHSmith is expected to show further progress on its joint strategy of expanding its travel business and cutting costs at its high street stores when it posts its interim results on Thursday.
Brokers at Numis expect these changes to boost halfyear profits by 4.3 per cent to £72 million. Like-for-like sales in both divisions of the group have been consistently negative since 2005, but the retailer's policy of focusing instead on margins is admired by City analysts.
ur focus will remain on profitable growth, cash generation and investing in new opportunities
WHSmith opened 30 new travel units in the UK during the year, and its chief executive Stephen Clarke said: "Our focus will remain on profitable growth, cash generation and investing in new opportunities."
The City expects the retailer to boost annual pre-tax profits by 6.2 per cent to £118.9million.
