UK. News and books retailer WH Smith has posted pre-tax profits of £44 million for the 12 months to 31 August, up +42% on the previous year.
Profits from the group’s travel division, which includes airport stores, rose +24% to £31 million. Like-for-like sales in the division were £319 million, up +3% for the year. Total group sales were £1.3 billion.
The company said the travel unit was boosted by increased sales, mix and space changes, range improvements and tight cost control.
It said: “Gross margin has increased during the year through buying improvements and mix changes, resulting in more sales in higher margin categories such as snacking. We have improved average transaction value.”
WH Smith operates 129 travel stores. In airports, the company renewed four contracts: for the book store and CTN (confectionery, tobacconist, newsagent) store at Glasgow Airport, and for CTN stores at Heathrow T4 and Southampton airports.
It also opened five new units: a book store at Bristol airport and CTN stores at Blackpool, Glasgow, Southampton and Manchester airports.
