EL7.AI
StocksMedium•15 November 2026•
1 min read

WH Smith Profits Slump 30% Amid Strategic Review of Australian Stores

Key Facts

1WH Smith reported a 30% slump in underlying pre-tax profits to approximately A$134 million for the financial year ending August 31.

WH Smith reported a 30% slump in underlying pre-tax profits to approximately A$134 million for the financial year ending August 31. ChannelNews.com.au reported that the company swung to a statutory pre-tax loss of approximately A$141 million after being hit by substantial restructuring costs and impairments, despite a 2% increase in like-for-like revenue.

The company is conducting a strategic review of its 66 retail locations in Australia, including outlets at major airports such as Sydney, Melbourne, and Brisbane, as part of a broader cost-cutting restructuring. Executive chairman Leo Quinn is pushing through a fundamental reset to address loss-making stores and excessive operational costs, while the group forecasts underlying pre-tax profits between A$130 million and A$155 million for the 2026-27 financial year.