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WH Smith is being investigated by the City watchdog aft the institution revealed accounting failures successful its US operations.
The Financial Conduct Authority (FCA) said: "The probe concerns imaginable breaches of UK Listing Principles and Rules and Disclosure and Transparency Rules successful narration to the matters announced by WH Smith PLC connected 19 November 2025."
On that time WH Smith revealed that Carl Cowling, its main enforcement of six years who had presided implicit the merchantability of the company's UK precocious thoroughfare business earlier successful the year, had resigned aft an autarkic reappraisal into an overstatement of earnings.
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Experts from Deloitte recovered WH Smith's North America part - its cardinal country for maturation - had been recognising supplier income incorrectly.
Profit forecasts were revised sharply little arsenic a effect - its 2nd specified determination during a twelvemonth that has seen shares tumble by much than 40%.
The institution said connected Friday that it expected profitability adjacent twelvemonth to beryllium static connected 2025 levels arsenic it reviews immoderate of its North American businesses successful the aftermath of the accounting problems.
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