WHSmith profit edged up in its half-year results driven by soaring sales in its travel division.
Group profit before tax and non-underlying items reached £46m, up from £45m in the prior year.
The retailer’s travel arm reported a trading profit of £50m, up from £47m, while its high street operations saw profit slip from £24m to £22m.
WHSmith’s group sales surged by 8% to £926m on the back of a 13% jump at its travel business.
Chief executive Carl Cowling said: “The group is in its strongest ever position as a global travel retailer.”
“Our travel divisions are trading well and I am particularly pleased with the outstanding performance from our UK travel business which has seen a 19% increase in trading profit,.”
“We continue to make excellent progress in this division, growing our space and broadening our categories as we transition to a one-stop-shop for travel essentials.”
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WHSmith said that it expects to open a total of 110 stores this financial year, with a new store pipeline of over 80 stores yet to open in its travel division, including more than 50 in North America.
Cowling added: “We have had a good first half and our businesses are well positioned for the peak summer trading period.
“The second half of the financial year has started well, and we are on track to deliver full year expectations. We are confident that 2024 will be another year of significant progress for the group.”
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