4th Jun 2025 09:00
(Alliance News) - WH Smith PLC on Wednesday reported growth across all markets of its travel business during the third-quarter, ahead of the disposal of its high street division.
The Swindon, England-based retail chain said total travel revenue grew 5% year-on-year, and 7% on a constant currency basis. Like-for-like sales were up 5% on-year.
WH Smith added that it is on track to deliver full-year revenue in line with expectations.
In the year to August 31, 2024, WH Smith reported revenue of GBP1.92 billion.
Growth was steady in all regions, but was highest in the firm's "rest of the world" or RoW designation, which includes all markets aside from North America and the UK. RoW revenue grew 9% in the third-quarter, 12% at constant currency rate, and 7% on a LfL basis.
UK travel revenue was up 5% overall and at a constant exchange rate. LfL UK revenue grew by 6%. WH Smith posted 7% growth for airport locations, 3% for stores in hospitals and 6% for rail sites. The firm also noted the launch of a stand-alone bookshop and a proposal to open Smith's Family Kitchen, its first coffee shop-style offering, in a UK airport.
North America posted 3% growth, 7% at a constant currency and 2% on a LfL basis. Growth in the airport division was up 9% at constant currency.
The update comes a few weeks before the sale of the company's UK high street business to Modella Capital Ltd completes. Back in March, WH Smith agreed to sell the unit for GBP76 million to the London-based retail investor. The sale is expected to complete at the end of June, and will see all 480 high street stores move under the brand name TGJones.
"Looking ahead, while we are mindful of the broader economic and geopolitical uncertainty, the group is well positioned as we enter our peak summer trading period. We are strengthening our focus on cost and cash discipline, and we are in a strong position to capitalise on substantial value creating opportunities that exist across our markets," the firm said.
WH Smith shares were up 1.5% at 1,039.00p each on Wednesday morning in London.
By Holly Munks, Alliance News reporter
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