WH Smith raises £100m as it warns on profits due to Iran war

Retailer plans to shut unprofitable stores as falling US airport traffic due to Middle East conflict hits trading Business live – latest updatesWH Smith has issued a profit warning after shopper numbers at its stores in US airports fell as a result of the war in the Middle East, prompting the company to raise fresh capital from investors.The retailer, which operates 1,200 outlets globally in airports, railway stations and hospitals, raised £102m through a share sale on Wednesday to strengthen its balance sheet, pay down debt, invest in technology and shut down unprofitable stores after “a downturn in trading conditions”.