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WH Smith PLC on Wednesday remained confident of delivering full-year results in line with expectations as growth in its travel business offset a drop in sales at its high street stores. Shares in WH Smith were up 3.0% to 1,177.80 pence per share in London on Wednesday morning. In a trading update for the 13 weeks to June 1, the Swindon, England-based retailer said trading momentum has continued across its key markets with total Travel division revenue up 9% on a constant currency basis versus the prior year. As a result, the group is on track for a full year in line with expectations. WH Smith said its UK travel division continues to perform strongly. Sales in the 13 weeks are up 9% on last year. Total revenue was up 8% in Air, up 14% in Hospitals, and up 8% in Rail in the period. Total revenue in the North American division was up 5% on last year on a constant currency basis. Like-for-like sales were flat with similar trends as reported at the company’s interim results in April, WH Smith said. Sales in the Rest of the World division are up 16% on last year on a constant currency basis as passenger numbers continue to improve across these markets, the company said. But in the UK High Street division, total revenue, including online, was down 4%. Looking ahead, WH Smith said it is well positioned entering the peak summer trading period. ‘Good trading momentum continues across all three Travel divisions and we are in a strong position to capitalise on substantial growth opportunities across our markets,’ the company said. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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