W H Smith revenue rises 7% as profit increases to £166m

W H Smith Total Group revenue has increased by 7% to £1.9m for the year ended 31st August 2024, compared to the same period in 2023.

Total revenue in Travel was up 11%, with Travel UK up 12%. Meanwhile, Headline Group profit before tax and non-underlying items up 16% to £166m. Travel UK trading profit had increased to £122m, from £102m, while Total Travel trading profit was at £189m from £164m in 2023.

High Street trading profit had remained steady at £32m. The retailer expects to open 40 stores this financial year in Travel.

"Our Travel divisions are trading well with a particularly strong performance from our UK Travel business, with trading profit up 20% to £122m," said group chief executive Carl Cowling. "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."

He added: "Our most exciting opportunity for growth is in North America. We are very pleased to have recently won some significant new airport business, including wins at Dallas, Denver and Washington Dulles airports, and we are the preferred bidder for a further 15 stores across two major US airports. Our store opening programme is on track and we have a new store pipeline of c.60 stores already won.

"In addition to the £50m share buyback announced in September, the Board is today proposing a final dividend of 22.6p, making a total of 33.6p for the year reflecting current trading and the significant medium and long term prospects for our global travel business."