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.[asset_ref id=”1316″]
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.