WH Smith (SMWH) – phenomenal performance, how do they do it?
Results for the year ending 31st August 2015 offered the usual excellent cash delivery and growth in earnings from a broadly flat top line. While group revenue was only up 1.46% to £1.178bn, profit before tax rose 8% to £121m and diluted earnings per share were up 13% to 85.6p.
Trading profit through the High Street stores was up a modest 2% to £59m but the Travel business continues to expand with trading profit…
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