'PLENTY TO DO' AT WH SMITH INSISTS SWANN

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WH SMITH chief executive Kate Swann said yesterday there was still “plenty more to do” at the high street chain amid mounting speculation she is being lined up for the top job at Royal Mail.

Swann, who has been with the books and stationary retailer since November 2003, said she was “fully focused” on developing the next stage of its growth. Plans include opening stores inside organisation buildings, including the BBC.

The Royal Mail job is up for grabs after the departure of Adam Crozier to head ITV. But Swann said: “People have said I have been about to go since 2003, and I’m still here.”

Smith’s yesterday saw pre-tax profits rise from £61million to £62million for the half year to February, raising the interim dividend 13 per cent to 6.1p. The shares fell 9½p to 505p. The company has 495 travel stores in airports and train stations, as well as 569 high street stores.

Swann said the volcanic ash disruption would hit sales but not profits because airport rents were tied to turnover.

Profits growth might have been stronger were it not for a “soft” Christmas books market as celebrity memoirs disappointed.