StockMarketWire.com - Books and stationary retailer WH Smith said its revenue in the year to date had risen 7%, as its travel-focused division continued to offset a slide on the High Street.

On a like-for-like basis, however, the company's sales for the 20 weeks through 18 January fell 1%.

Total revenue was boosted by the acquisitions of US-based travel retailers InMotion and Marshall Retail.

In the travel arm, revenue rose 19%, with like-for-like revenue up 3%.

In the High Street business, however, revenue fell 5% with like-for-like revenue also down 5%.

Gross margin at the High Street division was 'ahead of plan' and the company said it had identified £3m of additional cost savings, bringing total savings for the year to £12m.

'Looking ahead, we are on track for the current year and as we continue to grow our share of the global travel retail market, the group is well positioned for the years ahead,' chief executive Carl Cowling said.






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