Stationer and bookseller WH Smith (SMWH) grew sales in its Travel division by 9% in the year to 31 August. Pre-tax profit increased 7% to a better-than-expected £140m.

This continued strong growth means the Travel division’s revenue has overtaken High Street for the first time and is now the largest
art of the group in both sales and profit terms.

This is good news for long-term shareholders, since the traditional town centre business has been struggling for years, as online competition rises and high street footfall dwindles.

WH Smith has been building up the Travel business in stations and airports, while managing the decline of the high street estate.

Travel is a growing and resilient activity, as the sale of impulse products to a captive audience is all but immune to online competition.

Often the sole shop on a train station platform, WH Smith is able to generate strong sales while sustaining high margins.

During its 225th anniversary year, WH Smith also opened its 225th      international store. (JC)

‹ Previous2017-10-19Next ›