Top story
WH Smith saw profits in its travel arm rise 12% in the first half of the year as it prepares for life as a “pureplay travel retailer” later in the year.
The retailer is keen to reassure investors of its growth plans after jitters over its exposure to the US sent its share price down 27% since the end of January.
As a pure travel business, about a quarter of WH Smith’s revenue will come from the US. Investec warned last week the company may see more of an impact from a “macroeconomic slowdown rather than a tariff impact”, as weaker growth affects traveller numbers.
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Morning update
Heineken has hailed the performance of its Cruzcampo, Inch’s and Murphy’s brands for helping it offset wider volume declines across beer and cider in the UK.
Reporting financial results for the three months ended 31 March 2025, Heineken said its beer and cider volumes in the UK declined by “a low single digit”.
The performance was “better than the market” and driven by the “strong growth trajectory” of Cruzcampo and Inch’s cider, “further supported by Murphy’s stout with distribution gains in the on and off-premise”, it said.
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