WHSmith said it expects the outcome for the year to August 31 to be ahead of expectation after an uptick in high street and travel trading, yet warned ongoing uncertainty could impact profits in future.
In a pre-close trading update for the year ending August 31, WHSmith said that while its travel and high street businesses continue to be affected by the coronavirus pandemic, sales as a percentage of pre-pandemic levels had recovered during the period.
However, the retailer also said “the trajectory of the recovery in travel remains uncertain”. Which, “combined with the previously announced accounting finance charges relating to the successful convertible bond issue on April 29, 2021, means that we currently anticipate the levels of profitability for the year ending August 2022 will be at the lower end of market expectations”.
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