Swindon-based WH Smith has warned in an update that it expects the coronavirus crisis to knock between £30m and £40m off its profits in the financial year to August.

Its recently expanded airport retail business is particularly affected, with a “material reduction” in passenger numbers hitting sales, while High Street shops are also vulnerable.

“As a result, the group currently estimates an adverse impact in the financial year ending 31 August of between £100m and £130m on revenue,” it said, adding that it was a resilient business with a strong balance sheet, substantial cash liquidity and strong cashflow.