WHSmith has posted preliminary results for the year ended 31 August 2024, announcing a strong year with group profit up 16% and total group revenue up 7% to £1,918m, compared with £1,793m in 2023.

Total revenue in Travel is up 11%, with Travel UK up 12%, North America up 9% and Rest of the World (ROW) up 18%.

Headline group profit before tax and non-underlying items are up 16% to £166m (2023: £143m) and Total Travel trading profit is £189m (2023: £164m). High Street trading profit remains the same as 2023 at £32m.

There are new stores in the pipeline, with more than 90 stores won and yet to open in Travel, including around 60 in North
America. The company is expected to open net 40 stores this financial year in Travel.

The company states it is well positioned for future growth.

WHSmith Group Chief Executive, Carl Cowling commented: “The group has delivered an excellent performance throughout the year, particularly over the key summer trading period.

“Our Travel divisions are trading well with a particularly strong performance from our UK Travel business, with trading profit up 20% to £122m. We are making excellent progress in the UK as we continue to benefit from the rollout of our one stop-shop format which is creating significant opportunities to further grow profitability.

“Our most exciting opportunity for growth is in North America. We are very pleased to have recently won some significant new airport business, including wins at Dallas, Denver and Washington Dulles airports, and we are the preferred bidder for a further 15 stores across two major US airports. Our store opening programme is on track and we have a new store pipeline of c.60 stores already won.

“In addition to the £50m share buyback announced in September, the board is today proposing a final dividend of 22.6p, making a total of 33.6p for the year reflecting current trading and the significant medium and long term prospects for our global travel business.

“This set of results would not be possible without the ongoing efforts and dedication of the entire team across the globe, and I am extremely grateful for their support.

“The new financial year has started well. While there is some economic uncertainty, we are confident that 2025 will be another year of good progress for the group.”