This one surprised me so has made it into the blog as today's top good news story? WH Smith's profits are up 15%.Just to show that I really am balanced and not just sharing good news stories that are down to the impact of eCommerce this one is due to good old fashioned business!Newspaper and stationary retailer benefits from cost cuts and rebalancing of its business Amid the recent disappointing results released by UK retailers, WHS Smith's preliminary results beat expectations and show group profits are up 15% to £76m for the year ending 31 August. Earnings per share at the newspaper and stationary retailer were also up 7% to 35.3p. The retailer has made cost cuts over the past year, which has aided its year end results. Cost savings of £8m were delivered over the past year and the group intends to make a further £10m in cuts. Over the course of the year, WH Smith also worked on integrating recent acquisitions UNS Group and airport units from Alpha Retail as well as completed the return of £90m of cash to shareholders through a special dividend. The article goes on to mention the impact of it's airport activities ? which I have to say is the main reason I've been in there recently ? maybe the annoying offering of a half price bar of over-priced chocolate at the checkout really is working!Full article here By the way ? finding positive news stories is much harder than I thought it was going to be!!!
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- Gary McCarthy
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- Article added 9th October 2008
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