WH Smith full year profit boosted by travel business
Book and stationery retailer WH Smith saw its group pre-tax profit rise by 8% to £121 million in the year to 31 August following a good performance from its travel business.
While like-for-like sales were flat, total group sales edged up 1% to £1,178 million.
Total sales at its travel business, which includes shops at rail stations and airports, climbed by 9% with like-for-like sales rising by 4%.
However, its high street business fared less well with total sales down 4% and like-for-like sales falling by 3% in the period.
Stephen Clarke, WH Smith group chief executive, said: "Our travel business continues to perform well with strong sales across all channels in the UK, reflecting our ongoing investment and growth in passenger numbers. Internationally, we have made good progress in growing our sales and profit.
"In the high street business, our profit focused strategy continues to deliver sustainable growth. In our core categories of stationery and books we had a stronger second half helped by the new phenomenon of 'colour therapy' for adults.”
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