- Full-year results expected to be “in line with expectations”
- WHSmith travel business “continues to perform strongly”
- High street business profits to meet expectations, despite tough year-on-year comparable
WHSmith expects its full-year profits to be in line with expectations as it reported a continuing strong performance from its travel business.
In a pre-close update today, the retailer said it is continuing to see “good sales” across all its travel channels, which includes stations and airports.
In April, WHSmith posted an 11% rise in group half-year profits to £80m from sales of £633m.
Today it said its initiative to open more travel stores in the UK and internationally is “on track” and it continues to see “further opportunities” for expansion.
At its high street business, WHSmith said its profit performance for the second half was in line with expectations, despite a strong performance last year helped by sales of adult colouring books.
However, in June the retailer revealed that like-for-likes at its high street business fell 3%.
Today it added: “We continue to deliver gross margin improvements and cost savings in line with our profit focused strategy.”
Last month WHSmith pledged to pass on savings to some non-EU-bound travellers at its airport branches following last year’s revelations over VAT.
It will publish results for the year to August 31 on October 13.