WH Smith warns on profit and plans equity raise as airport passenger numbers dip

WH Smith chief executive Carl Cowling has stepped down after an investigation into an accounting blunder in its US division (Alamy/PA) -

WH Smith has cut its annual profit outlook again and unveiled plans to raise equity as the retailer said there were fewer passengers going through its travel hubs due to the Middle East conflict.

It is hoping to raise around £100 million from investors through issuing new shares.