WH Smith losses up by 30.8% to €165k

Pre-tax losses at the Irish arm of British-owned retail giant, WH Smith increased by 30.8% last year to €165,472 in spite of a sharp increase in revenues.

The figures show revenues at WH Smith Ireland Ltd increased more than three-fold from €1.79m to €6.86m in the 12 months to the end of August last.

However, the chief factor behind the increase in pre-tax losses was the firm’s non-cash depreciation cost increasing from €81,569 to €219,852, while the firm also recorded an impairment charge of €199,201.