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flag WH Smith faces UK probe over U.S. accounting issues, reports major loss, cuts dividend, and plans store overhauls.

flag WH Smith is under investigation by the UK’s Financial Conduct Authority over potential listing rule breaches due to accounting issues in its U.S. operations, leading to a restated profit and a 7% share drop. flag The company reported a £144 million net loss for the year, a sharp decline from last year’s profit, driven by a £113 million loss from discontinued operations. flag It cut its dividend for the first time since the pandemic, plans to recover overpaid bonuses, and is reviewing underperforming U.S. businesses. flag WH Smith expects flat profits in 2026 and is launching a major store renovation program to shift to a "one-stop-shop" format.

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