By Anthony O. Goriainoff
WH Smith said total travel revenue rose and that it was on track to deliver full-year results in line with expectations.
The London-listed company--which is selling its high-street retail business to concentrate on travel--said that for the 13 weeks to May 31 total travel revenue rose 7% on a constant currency basis.
The company said total revenue at its U.K. division rose 5%, with like-for-like revenue up 6%. For North America total revenue was up 7%, with like-for-like revenue up 2%, reflecting strong spend-per-passenger growth, among other items.
Total revenue for the rest of the world was up 12% on a constant currency basis, and up 7% on a like-for-like basis, as passenger numbers continue to improve.
The board said it was mindful of the broader economic and geopolitical uncertainty and that it was well-positioned as it entered the peak summer trading season.
WH Smith said it was on track to complete the sale of its U.K. high-street business to Modella Capital at the end of June.
"We are strengthening our focus on cost and cash discipline, and we are in a strong position to capitalize on substantial value creating opportunities that exist across our markets," it said.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
June 04, 2025 02:27 ET (06:27 GMT)
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