SWINDON (dpa-AFX) - WH Smith Plc (SMWH.L), a retailer for news, books and convenience, reported Wednesday that its group revenue was up 6 percent in the fourth quarter and up 7 percent in fiscal 2024 from last year, driven by Travel. The company expects outcome for the year to be in line with expectations.
Further, the company announced the launch of a 50 million pounds share buyback, which reflects strong ongoing cash flow, the receipt of the pension fund buyout cash return, as well as the strength of the balance sheet.
In its pre-close trading update for the year to August 31, WH Smith reported that like-for-like revenues at constant currency increased 4 percent in the forth quarter and 5 percent in fiscal 2024.
Travel revenue grew 9 percent in the fourth quarter and 10 percent in the full year with growth in all regions. Travel performed well over its peak trading period in the second half, driven by key initiatives and strong passenger numbers.
Meanwhile, High Street revenues fell 6 percent in the quarter and 4 percent in the year.
The company is scheduled to announce its preliminary fiscal 2024 results on November 14.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
