Good half-year results driven by a 19% increase in trading profit from the UK Travel business.
The WHSmith Group has reported group profit before tax and non-underlying items of £46m, up from £45m in the prior year in its half year results (for the six months to 29 February 2023).
This has been driven by an increase in trading profit from the travel division from £47m in 2023 to £50m in 2024. The high street trading profit has slipped from £24m in 2023 to £22m.
Carl Cowling, group chief executive, commented: “The Group is in its strongest ever position as a global travel retailer. We have had a good first half and our businesses are well positioned for the peak summer trading period. Total Travel revenue is up 13%. 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.”
The transformation of the travel business from a news, books and convenience retailer to a onestop-shop for travel essentials is paying dividends for the group. The group has plans to open 80 more stores in Travel, including over 50 in North America.
