WH Smith Plc. (SMWH.L) announced that it now expects Headline trading profit from its North America division for the financial year ending 31 August 2025 to be approximately 25 million pounds, down from previous market expectations of around 55 million pounds.
This revision follows a recent financial review, which identified an overstatement of approximately 30 million pounds in expected Headline trading profit. The overstatement is largely attributed to the accelerated recognition of supplier income within the North America division.
As a result, the Group expects full year Headline profit before tax and non-underlying items to be in the region of 110 million pounds.
The company said its board has instructed Deloitte to undertake an independent and comprehensive review.
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