WH Smith Ireland books higher sales and profits

The surge in air travel from Ireland helped WH Smith Ireland, the local arm of the UK bookseller, boost its sales in the year to the end of August by more than 22 per cent to €23.7 million.

WH Smith operates bookstores at Dublin and Shannon airports, as well as a concession outlet at Arnotts department store in Dublin. A tourism boom has seen numbers at Dublin airport in particular spike recently, and the positive effect of increased footfall is borne out in the firms accounts.

Profits at WH Smith Ireland grew at a slower rate, however, as the group’s wage bill and other costs ballooned. Its net profit increased from €1.3 million to about €1.5 million.

The company grew its staff numbers in Ireland from 74 to 87 over the period.

WH Smiths Ireland’s accumulated profits now stand at €4.1 million, as the group has battled back from a difficult period during the recession, when air travel slumped.

Improved performance

Its vastly improved performance is also evident in its cash balance, which has surged by €5 million to €6.5 million.

The parent group is listed in the UK, and its results for the same period for its travel division show profits jumped 10 per cent to £80 million (€101 million). Total group revenue were up last year top almost £1.2 billion.

Its Christmas trading statement showed like-for-like sales growth of 5 per cent.

The group highlighted the its bottom line received from increased numbers of travellers.