WH Smith PLC on Wednesday said its third quarter revenue has topped pre-pandemic levels for the first time, helped by its strong travel unit.

For the 15 weeks to June 11, total revenue grew just above its pre-pandemic level for the first time, driven by the travel arm. Sales at the travel unit topped pre-virus levels, while in its high street arm, sales were 79% of pre-virus levels.

The high street figure worsened from the second quarter, when sales were at 84% of pre-Covid levels.

‘This includes the impact from the cyber incident on Funky Pigeon,’ the firm said, referring to an April cyberattack on its online greetings card & gift retailer.

It said at the time that no customer data had been placed at risk, as data is securely encrypted via accredited third-parties. The firm also had said that the attack will not have a material impact on its performance.

‘We saw a good performance from our Platinum Jubilee ranges, which resonated well with customers, and our focus on front-of-store mega deals is delivering good results,’ the Swindon-based retailer books and stationery retailer said on Wednesday.

With its travel arm’s strong performance expected to carry across all three divisions into the peak summer trading period, WH Smith said it now expects full-year results at the higher-end of analyst forecasts.

‘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, including the 125 new stores won and yet to open, and our new store formats and category development across multiple geographies,’ the retailer explained.

WH Smith shares were 5.1% higher at 1,427.50 pence each in London on Wednesday morning.

Copyright 2022 Alliance News Limited. All Rights Reserved.