Tuesday 21 May 2019

Teen author's sales help Irish revenues soar at WH Smith

A scene from the movie adaptation of 'The Fault in our Stars'
A scene from the movie adaptation of 'The Fault in our Stars'

Gordon Deegan

Sales of teen author John Green's 'The Fault in Our Stars' contributed to revenues at the Irish arm of WH Smith rocketing last year to €19.29m.

New figures show however that the sharp jump in revenues from €11.6m in the year to the end of August 31 did not translate into higher pre-tax profits.

Accounts just filed by WH Smith Ireland show that pre-tax profits fell from €1.54m to €1.5m.

This arose chiefly from administrative expenses and distribution costs jumping from €4.2m to €8.2m.

Numbers employed last year increased from 55 to 74.

The main concentration of WH Smith's stores in Ireland is at Dublin Airport while it also operates stores at Shannon Airport and at Arnotts.

The jump in revenues arose from WH Smith winning the contract to run shops in Dublin Airport's Terminal One in Augusts 2013.

The WH Smith business here was also helped by the books market stabilising.

Figures provided by Nielsen BookScan show that overall sales here topped €106m in 2014.

Staff costs increased from €1.18m to €2.32m. The profit last year takes account of non-cash deprecation costs of €468,049.

The firm's rental payments jumped from €2.68m to €4.3m.

Irish Independent

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