WHSmith has hailed “excellent” preliminary results for the year ending 31 August, with profits and revenues up, driven by strong performances in its travel business, at home and abroad.
The retailer’s headline group profit before tax rose 16% to £166m while total group revenue was up 7% to £1.92bn.
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CEO Carl Cowling said “The new financial year has started well. While there is some economic uncertainty, we are confident that 2025 will be another year of good progress for the group.”
Looking ahead, WHSmith has a pipeline of over 90 new stores globally, including 60 in North America, with plans to open 40 net stores this year.
Cowling added: “Our travel divisions are trading well with a particularly strong performance from our UK Travel business, with trading profit up 20% to £122m. We are making excellent progress in the UK as we continue to benefit from the rollout of our one-stop-shop format which is creating significant opportunities to further grow profitability.
The retailer is currently eyeing growth in North America where it has recently won some significant new airport business, including stores at Dallas, Denver and Washington Dulles airports. It is also the preferred bidder for a further 15 stores across two major US airports.
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