WH Smith stays in speak with supply its excessive highway arm.
The enterprise’s hight highway process consists of relating to 500 retailers, the preliminary 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 earlier years, the corporate has truly focused on its much more worthwhile, make a journey retail group which runs from flight terminals, prepare terminals and healthcare amenities.
The excessive highway group at the moment represents simply round 15% of yearly group buying and selling earnings.
“Over the past decade, WH Smith has become a focused global travel retailer,” the declaration proceeded.
“The group’s journey enterprise has over 1,200 shops throughout 32 international locations, and three-quarters of the group’s income and 85% of its buying and selling revenue comes from the journey enterprise.
“There can be no certainty that any agreement will be reached, and further updates will be provided as and when appropriate.”
The group reported underlying pre-tax earnings of ₤ 166 million for the yr to August 31– up from ₤ 143 million the earlier yr.
But revenues continued to be stage at ₤ 32 million in its standard excessive highway group regardless of a 2% lower in like-for-like gross sales many because of cost-saving initiatives.
