British retailer WH Smith recently said that its annual revenue jumped 28% from a year ago, boosted by strong demand during a busy summer travel season.
Leisure travel demand has been robust since the pandemic restrictions ended, with the sector witnessing a global boom during the summer holiday season. However, high costs and the squeeze to passenger spending amid an uncertain economic environment continue to weigh on the sector.
The company, which has stores in travel hubs and sells everything from books and sandwiches to Bluetooth headphones, said it expected results for the full-year ended 31 August to be in line with its estimates.
Full Year Forecast
In May, WH Smith had forecast higher full-year profit, buoyed by a recovery in passenger numbers in all its key markets.
For the full year, analysts on average expect profit before tax to be at £143 million, according to a company compiled analyst consensus.
WH Smith, which will report its preliminary annual results on 9 November, said it expected to open over 80 new stores across its travel businesses in the financial year ending August 2024.