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WH Smith has reported a 5% increase in total group revenue to £748m for the first half of the year, up from £716m in 2025.
The growth comes despite significant geopolitical uncertainty and a softening in air travel schedules linked to the ongoing conflict in the Middle East.
The retailer saw revenue gains across all major divisions, with the UK up 2%, North America up 10%, and the Rest of the World up 8%.
However, while turnover remained resilient, headline group trading profit fell to £32m from £47m. The group also recorded a statutory loss before tax of £25m, impacted by inflationary pressures and store refurbishment costs.
It noted that UK like-for-like revenue has remained flat in the seven weeks following the half-year end, reflecting a reduction in passenger numbers.
Looking ahead, In response to the uncertainty and the need to strengthen its balance sheet, the board has taken the “prudent decision” to suspend the dividend.
Executive chair Leo Quinn, who joined the business in April 2026, stated that the group is adopting a “more cautious” outlook for the peak summer trading period.
WH Smith now expects to deliver a full-year headline profit before tax of between £90m and £105m.
In the UK, the company recently opened global flagship stores at Heathrow Terminals 3, 4, and 5.
The group is also expanding its Travel Essentials range, including the launch of a new own-brand health and beauty line called Roame to drive higher spend per passenger.
Quinn said: “The immediate focus is to restore confidence and ensure the right foundations are in place to support profitable growth and long‑term value creation. Moving forward, the board and management team will have a relentless focus on driving cash, cost discipline and strengthening the balance sheet. As a first step, the board has taken the prudent decision to suspend the dividend.
“This is a business with a strong brand and proposition in high-footfall travel markets. The immediate focus is to restore confidence and ensure the right foundations are in place to support profitable growth and long-term value creation.”
He added: “Moving forward, the board and management team will have a relentless focus on driving cash, cost discipline and strengthening the balance sheet. As a first step, the board has taken the prudent decision to suspend the dividend.”
