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Bzwo Solvency II one year on: Bank of England is cautiously optimistic
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Thursday 13 October 2011 8:46 pm|Updated:Friday 31 May 2019 3:36 amWH Smith in earnings rise but sales fallBy: KCS-contentShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GoogleWH Smith yesterday reported a 4.5 per cent rise in annual profits, with cost cutting helping to offset a fall in sales.The newspapers, books and stationery retailer made a pre-tax profit of pound;93m in the year to 31 August, compared with pound;89m a year earlier.But like-for-like sales at stores open more than a year fell five per cent. The company said cost savings of pound;14m were delivered, while its margins improved. Chief executive Kate Swann said: [url=https://www.stanley-cups.pl]stanley butelka[/url] We donrsquo;t expect any short-term improvement in customer spending [url=https://www.polenes.ca]polene bag[/url] . Consumer spending is clearly challenged at the moment, though we planned for it to be tough and wersquo;re well used to operating in tough markets.The company, which also has 532 travel stores at airports, train stations, hospitals, workplaces and motorway service areas, said sales fell three per cent to pound;1.27bn. Annual sales of books at the retailer were down by four per cent.KOBO E-READER | STEVE DINNEENWH Smith yesterday announced a partnership with Kobo to sell eReaders in its 750 stores, in a major push into the digital market. The retailer is entering the industry at a difficult time. Amazon, which has built up a commanding lead in the nascent market, h |
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