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WH Smith hikes divi as profits rise 7%

WH Smith has increased its dividend by 10% to 48.2p a share after reporting a 7% increase in group profit before tax to £140 million in the 12 months to August.

Revenue in the travel business rose 9%, overtaking high street revenue for the first time. Profit in travel increased by 10% to £96 million and now represents over 60% of group trading profit.

High street profits were flat at £62 million with total revenue falling 5%.

Like-for-like revenues were flat overall, with travel up 4% and high street down 4%.

Stephen Clarke, group chief executive, said: "Looking ahead, we will focus on profitable growth, cash generation and new opportunities to profitably invest in the future. While the economic environment remains uncertain, we are well positioned for the current year and beyond."

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