Monday 21 May 2018

WH Smith profits climb to £70m

Bookseller WH Smith, which plans to open three outlets at Dublin Airport's new Terminal 2 later this year, said group profit for the first six months of its financial year rose 4pc to £70m (€81m).

Its operating profit generated from its airport and workplace outlets jumped 15pc to £23m, but overall group like-for-like sales were down 4pc. Total sales were £716m. WH Smith said the stores to open in Dublin will be directly owned by the group. WH Smith has a store in Shannon Airport, and was among the groups vying for control of the Hughes & Hughes outlets at Dublin Airport's existing terminal earlier this year when the Irish company went into receivership. Those stores are now operated by Eason.

World Cup gives Adidas a jump


Adidas AG, the world's second-largest sporting-goods maker, said first quarter profit jumped on sales of World Cup soccer-themed items, and the company raised its earnings forecasts for the year. Net income rose to €168m, or 80c a share. Sales rose 4pc to almost €2.7bn. "The figures look good at a first glance and may lead to a rising share price," said Thomas Rosenke, an analyst at WestLB AG in Frankfurt.

Toyota pays fine over safety defect


Toyota Motor Corp.'s payment of a $16.4m (€12.3m) fine showed it accepted responsibility for breaking a law requiring carmakers to notify regulators of safety defects, US Transportation Secretary Ray LaHood said. Paying the fine was more important than Toyota's denial of allegations it broke the law by failing to tell regulators within five days of discovering accelerator pedals could stick, he said.

Irish Independent

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