WH Smith PLC on Wednesday said that group revenue in its fourth quarter topped its pre-pandemic level, but its High Street arm continues to feel pressure after a cyber attack.

WH Smiths is a books and stationary retailer that operates on UK high streets as well as in travel locations such as airports and train stations globally.

In the 11 weeks to August 27, total revenue grew ‘comfortably’ above its pre-pandemic level, driven by the company’s Travel arm. Travel unit sales topped their pre-virus level, at 135%, while in its High Street arm, sales were 82% of their 2019 level.

The high street figure improved from the third quarter, when sales were at 79% of the pre-pandemic figure. Overall in the second half, however, High Street revenue fell to 80% of pre-Covid, down from 86% in the first six months.

WH Smith said that the overall improvement in revenue was primarily been driven by the recovery in passenger numbers in WH Smith’s key travel markets.

In both the fourth quarter and second half of WH Smith’s financial year, revenue from the company’s UK, north America and rest of the world markets were up against pre-pandemic levels.

‘As passenger numbers continue to recover, we have delivered strong [average transaction value] growth and higher penetration, driven by our ongoing strategy to significantly enhance our ranges and develop our categories, such as health and beauty and technology,’ WH Smith explained.

The company said the High Street division is performing in line with expectations.

However, it said that sales in the second half were hurt by a cyber attack on its online greetings card & gift retailer Funky Pigeon in April.

Looking ahead, WH Smith said its Travel arm is in a ‘strong position to benefit from the significant growth opportunities across the global travel retail market.’ It noted that it has over 130 stores won and yet to open, including six new stores in Brussels airports and wins in Salt Lake City and Los Angeles International airports.

WH Smith expects full-year results to be in line with upgraded expectations.

Shares in WH Smith were down 2.3% to 1,440.00 pence each in London early Wednesday.

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