WH Smith remains in talk with offer its high road arm.
The business’s hight road procedure is composed of regarding 500 shops, the initial of which was opened up 230 years earlier.
“WH Smith confirms that it is exploring potential strategic options for this profitable and cash generative part of the group, including a possible sale,” a declaration claimed.
Over the previous years, the company has actually concentrated on its even more worthwhile, take a trip retail organization which runs from flight terminals, train terminals and healthcare facilities.
The high road organization currently represents just around 15% of yearly team trading earnings.
“Over the past decade, WH Smith has become a focused global travel retailer,” the declaration proceeded.
“The group’s travel business has over 1,200 stores across 32 countries, and three-quarters of the group’s revenue and 85% of its trading profit comes from the travel business.
“There can be no certainty that any agreement will be reached, and further updates will be provided as and when appropriate.”
The team reported underlying pre-tax earnings of ₤ 166 million for the year to August 31– up from ₤ 143 million the previous year.
But revenues continued to be level at ₤ 32 million in its conventional high road organization in spite of a 2% decrease in like-for-like sales many thanks to cost-saving initiatives.
