WH Smith has today reported a higher annual revenue as robust travel demand propelled sales of its products ranging from sandwiches to books, sending the retailer's shares up 11%.
WH Smith, an over 230-year-old brand, said trading in the new financial year so far was in line with expectations.
Strong passenger numbers in the second half of the year ended August 31 supported demand for WH Smith's product offerings - ranging from travel accessories, food and drinks to health and beauty - at airports.
SSP Group, which operates food outlets across airports and rail stations said in July, it was optimistic about more people undertaking leisure travelling.
The travel industry has remained resilient in the face of high inflation and tight budgets, with data showing record air passenger numbers in the UK and the US during the summer months.
Multiple sporting events, including the Olympics, Wimbledon and European Soccer Championship also contributed to more people travelling to Europe.
Revenue for the year rose 7%, buoyed by strong travel demand across its UK and US markets and the introduction of new products.
The firm also said it received proceeds of £85m from a buyout of its pension trust while launching a £50m share buyback.
The London-listed firm will release its preliminary results for the year on November 14.
