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WH Smith PLC announced on 21 August 2025 that a financial review identified an overstatement of approximately £30m in expected Headline trading profit for its North America division for the financial year ending 31 August 2025. As a result, the company revised its expectations for North America Headline trading profit to approximately £25m (previously £55m) and Group full-year Headline profit before tax to approximately £110m. The Board also instructed Deloitte to undertake an independent and comprehensive review.
| Date | 21 Aug 2025 |
| Time | 07:00:12 |
| Category | Miscellaneous |
| ID | 1676W |
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
WH Smith PLC
The global travel retailer
21 August 2025
Update - North America
Revised guidance
In preparation for the Group's year end results for the financial year ending 31 August 2025, a current financial review has identified an overstatement of around £30m of expected Headline trading profit1 in North America. This overstatement is largely due to the accelerated recognition of supplier income2 in the North America division.
WHSmith now expects Headline trading profit1 from the North America division for the financial year ending 31 August 2025 to be approximately £25m, down from previous market expectations of approximately £55m.
As a result, the Group expects full year Headline profit before tax and non-underlying items1 to be in the region of £110m.
The Board has instructed Deloitte to undertake an independent and comprehensive review.
The Group will provide a further update at its preliminary results announcement.
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Enquiries: |
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WH Smith PLC |
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Nicola Hillman |
Media Relations |
+44 1793 563354 |
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Mark Boyle |
Investor Relations |
+44 7879 897687 |
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Brunswick |
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Tim Danaher |
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+44 20 7404 5959 |
The person responsible for making this announcement on behalf of the Group is Ian Houghton (General Counsel and Company Secretary).
1 Pre-IFRS 16 basis
2 The Group receives supplier income in the form of supplier incentives and discounts. These incomes are recognised as a deduction from cost of sales on an accrual basis as they are earned for each supplier contract.