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Newsagent and bookseller WH Smith today said its roll-out of mini-stores in airports, hospitals and offices helped it post an 8% rise in annual pre-tax profit, which hit £82 million.
Smith opened 51 branches in train stations, motorway service centres and airports during the period, plus 11 in hospitals, taking its total number of “travel shops” to 490.
Total sales for the year to August dipped to £1.34 million, from £1.35 million last year, but a squeeze on costs kept profit up.
Chief executive Kate Swann said it was “still a tough environment” but added that “trading was good across the board”.
WH Smith shared its spoils with investors, upping the final dividend 17% to 16.7p. It also announced plans to return £35 million to investors through a share buyback programme.
