WH Smith PLC (LON:SMWH) has warned its airports and railway outlets have been badly affected by the slump in people travelling due to coronavirus.
UK Travel revenues are down by 15% with airport revenues 35% lower in March and April while the international and US operations are both 20% down.
The impact will be to knock between £100-130mln from sales in the year to August while underlying profits will be between £30mln and £40mln lower than previously expected.
Smiths added that the last two weeks had seen a material reduction in passenger numbers at airports outside of Asia Pacific in the UK (approximately 60% of Travel's revenue), the US (approximately 25% of Travel's revenue) and in Europe.
So far, the high street newsagents have not been affected materially but that situation might change if general restrictions on movement are brought in.
Revenues in the half-year to February rose by 7% and were down by 1% on a like-for-like basis.