Supply chain savings boost profits for WH Smith

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WH Smith’s High Street business delivered £14m of cost savings during the year, £3m ahead of plan.

It said the savings came from a number of areas of the business including supply chain efficiencies, variable costs associated with entertainment, and store efficiencies through improved use of technology.

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It is now targeting a further £11m of cost savings over the next three years, making total targeted savings of £25m between 2012 and 2014.

Group operating profit for the year to 31st August was up five per cent to £109m despite that fact that sales were down three per cent at £1.27bn.

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