WH Smith has suffered a hangover on book sales in its second half after coming up against a sizzling performance from passion best-sellers such as Fifty Shades of Grey, last summer.
But the stationery retailer said its stores in hospitals, stations, motorways and airports, including overseas, had delivered “good” trading, and profits for the year to August 31 would be “in line” with City expectations of £107 million. In a pre-close update, WH Smith said its High Street business had produced a “solid performance”, despite its facing “the relatively strong publishing schedule” in the second half of last year, when Fifty Shades of Grey by EL James became an international publishing sensation.
Shares in WH Smith today rose by 2.5p to 815.5p, valuing the company at more than £1 billion.
