WHSmith profits drop as FCA launches investigation into business

WHSmith saw profits decline in its annual results, amid a “difficult” end to the year.
The retailer saw headline pre-tax profit and non-underlying items drop to £108m for the year ended 31 August 2025, from £114m the year before.
The results come after WHSmith sold its UK high street arm for £76m to Modella Capital earlier this year, as it pivoted to focus solely on its travel retail division.
The business also sold online card business Funky Pigeon to Card Factory