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WH Smith narrowed annual losses as costs cuts offset a slide revenue following the pandemic impact on travel.
For the year ended pre-tax losses narrowed to £116 million from £280 million, while revenue declined 13% to £886 million.
The narrower loss reflected a recovery in passenger numbers and tight cost control, the company said. Revenue was 62% of pre-pandemic 2019 levels amid a robust performance in High Street throughout the year, despite footfall declines, with the important December trading period at 92% of 2019.
The board has announced that it would not be paying a dividend in respect of the financial year ending 31 August 2021.
Looking ahead, the company said it continued to be impacted by government actions, but was optimistic that it would be able to achieve 2019 sales levels in the current financial year.