WH Smith boosted by travel estate

A strong performance at its motorway, airport and station stores helped UK stationery retailer WH Smith report a 15% hike in underlying full-year profits today.

The group posted a surplus of £76m (€95.8m) for the year to August 31, which was marginally better than expected in the City.

Sales at its 449 store travel portfolio rose 3% on a like-for-like basis excluding tobacco, helping offset a 3% decline in comparable sales within the high street business.

WH Smith said it had also met cost cutting targets, saving £8m (€10m) over the year, with another £10m (€12.6m) due to be trimmed.