In preparation for the WHSmith Plc (LON:SMWH) 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.
