High street staple WHSmith is anticipating its full year outturn to hit the higher end of analysts’ expectations after its travel division has surpassed pre-pandemic revenue levels.
In a trading update, the stationery seller said group revenue in the 15 weeks to 11 June was ahead of 2019 levels, sitting at 107 per cent.
In the UK, overall revenue for the period was 104 per cent on 2019 levels, with its travel arm hitting 107 per cent.
However, its high street division, which includes the online card business Funky Pigeon, was 79 per cent on 2019.
The greetings card seller was hit by a cyber attack earlier this year, which led to customers’ orders being cancelled and trading suspended for a short while.
Its strong third quarter performance comes as public transport demand has shot up in recent months while airports have seen a booming return of passengers travelling abroad.
WHSmith said it was in a “strong position” to benefit from “significant growth opportunities across the global travel retail market”, with more than 125 new stores in the works.
“While the broader global economy remains uncertain, the group is well positioned to capitalise on the ongoing recovery in our key markets and take advantage of the many opportunities ahead,” the update on Wednesday stated.