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WH Smith cuts profit forecasts after £30m accounting error

Retailer launches independent review after mistake relating to North American arm was discoveredWH Smith shares have plunged as it cut financial forecasts and launched an independent review after discovering an accounting blunder that led it to overstate profits by £30m.Investors wiped nearly £500m off the retailer’s market value on Thursday morning as it reported the multimillion-pound accounting error, sending the stock price down as much as 36% to £7.06 a share. Continue reading...

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