Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

WH Smith FY expectations 'modestly' improved

Published 31/05/2023, 08:17
WH Smith FY expectations 'modestly' improved

Sharecast - For the 13 weeks to 27 May, it reported a 23% jump in group revenue versus a year earlier.

"As we approach the peak trading period in travel, the business continues to perform strongly across all our key travel markets, with total travel revenue in the 13 weeks to 27 May 2023 up 31% versus the prior year," it said.

"As such, since our announcement on the 20 April, our expectations for the full financial year have further improved."

WH Smith (LON:SMWH) said the UK division continues to perform strongly, with revenue up 24% on last year. This was driven by category expansion, a focus on average transaction value, the success of InMotion, its travel essentials one-stop-shop format and the ongoing recovery in passenger numbers.

Total revenue in North America was up 26% as it opens its pipeline of new stores and passenger numbers continue to recover versus 2019 levels.

Meanwhile, the Rest of World division performed "extremely well", with revenues up 79%. The Australian and Asian businesses continue to recover and the company is still making progress on winning new business, with further wins in Europe in the period.

Finally, the High Street business saw total revenue rise 2% in the period. WH Smith said its store network performed "well".

"Looking ahead, the group is in a good position as we approach the peak summer trading period," it said.

"Trading is strong across all three travel divisions, and we are very well positioned to capitalise on the substantial growth drivers across our markets."

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Read more on Sharecast.com

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.