WH Smith has released a pre-close trading update showing strong growth in group revenue driven by its Travel businesses.
In advance of the publication of its results for the twelve months ended 31 August, the UK-based reseller has said it expects the outcome to be in line with expectations. The update focused on the Travel business, with little information given about the High Street division.
The shift to focus on its Travel unit seems to have paid off. After calling itself ‘the global travel retailer’ at the start of the year, the unit continues to do well. The update said Travel – at constant currency – was up 27% as it benefits from the recovery in passenger numbers post-COVID and opens more outlets. WH Smith added that in-store ranges, including food, health, beauty and technology, had delivered strong average transaction value growth. 80+ new stores across the Travel businesses in the UK, North America and Rest of the World are planned for the current financial year.
Meanwhile, the company said its UK High Street store network had performed “well and in line with expectations” as the top line edged up by 1% on a like-for-like basis.
Total group revenue for the year was up 18% versus 2022. The full results will be published on 9 November.