Strong sales of Manchester United manager Sir Alex Ferguson's autobiography helped boost profits at WH Smith this year.
After posting a decline in pre-tax profits at the full-year stage last year and half-year point in April, WH Smith chief executive Richard Handover said the group was now in good shape, with a strong set of figures led by an "excellent" performance in UK retailing.
Pre-tax profits for the year to August 31 rose 5 per cent to £140 million, against £134 million at the same point last year.
The profit figure included a £2 million charge from buying back 950,000 shares in August last year for the group's employee share scheme. Group sales rose to £2.58 billion, from £2.39 billion last time.
During the year in the UK, the group reduced its retailing space by one per cent to 3.1 million square feet by closing 18 former John Menzies' stores. It also focused on growing sales within its core books, magazines and stationery categories.
UK book sales grew by seven per cent, with a strong performance from Sir Alex's autobiography, as well as good sales from authors such as Stephen King, Josephine Cox and Rosamunde Pilcher.
Magazine sales rose by five per cent and core stationery sales were up five per cent. Sales of electronic stationery goods rose 45 per cent, although sales of music and video products declined by five per cent.
Stripping out the effect of new store openings and refurbishments, like-for-like sales were up 3%.
Mr Handover said: "This is a very good result in a difficult retail trading environment.
"Core product categories of books, magazines and stationery have been extended and have performed strongly throughout the year."
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