WHSmith has recorded a rise in revenue, mainly driven by travel sales during the peak summer period and new ranges.
Group revenue grew 7% in 2024 compared with the year before, with total travel revenue rising 10%.
UK travel increased 12% for the full year, while North America and the rest of the world grew 6% and 15% respectively.
Its travel division performed particularly well in the second half of the year, boosted by the broadening of categories and ranges across food and drinks, health and beauty and technology.
In the UK, WHSmith launched food-to-go offer Smith’s Family Kitchen, which is exceeding expectations, and Smith’s Kitchen Cafe at Princess Anne Hospital in Southampton.
Its high street business is also performing in line with expectations. It expects to open an additional 37 Toys R Us shop-in-shops before Christmas to reach 76 in total.
In a pre-close trading update, the group also announced a £50m share buyback with the intention to return surplus cash to investors.
WHSmith group chief executive Carl Cowling said: “We have ended the financial year in a strong position, delivering a performance in line with our expectations with good growth across our travel businesses. Our UK division performed particularly well over the peak summer trading period.
“We are also today announcing the launch of a £50m share buyback, which reflects strong ongoing cash flow, the receipt of the pension fund buyout cash return, as well as the strength of our balance sheet, with leverage now within our target range.
“Our colleagues have worked extremely hard to deliver these results over what has been a very busy summer, and I would like to thank them for their contribution to the group’s success.”
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