W H Smith trading update shows group revenues up 23%

W H Smith’s group revenue rose 23% in the 13-week period to 27th May 2023, with total travel revenue jumping 31% compared to the year before. High street total revenue, including online, was up 2% while the store network “performed well”.  

In a trading update, the retailer said its expectations for the full financial year have “further improved” and that it is “very well positioned for further growth” across its travel markets in the current financial year and beyond. It has won more than 70 stores in travel so far this financial year.  

W H Smith said total revenue compared to the year before was up 26% in air and up 33% in hospitals. Rail was up 10% despite the ongoing impact of industrial action. The North America division was up 26% on last year as it opened a pipeline of new stores and passenger numbers continue to recover to 2019 levels.  

The Rest of the World division is performing “extremely well”. Total revenue for the period was up 79% on last year. Australian and Asian businesses continue to recover and the retailer continues to make progress on winning new business with further wins in Europe in the period. 

Looking ahead, the W H Smith said it “is in a good position” as it approaches the peak summer trading period.