WH Smith is on track to deliver a full-year performance in line with expectations after reporting a 9% growth in its total travel revenue in the UK.

The retailer said that trading momentum had continued across its key markets, in its latest trading update covering the 13 weeks to 1 June.

However, in WH Smith’s UK high street division, the group reported that total revenue, including online sales, was down 4% over the same period compared to last year’s results.

In its latest trading statement, WH Smith said: “Looking ahead, the group is well positioned as we enter our peak summer trading period. Good trading momentum continues across all three travel divisions, and we are in a strong position to capitalise on substantial growth opportunities across our markets.”

Head of money and markets at Hargreaves Lansdown, Susannah Streeter, commented that “WH Smith’s travel pivot is continuing”, but added that the retailer is still being “held back” by the performance of its high street operations.

“The company is shapeshifting and refocusing on the captive market of the travelling public,” Streeter added. “While the aim of being ‘one-stop for travel essentials’’ is reaping rewards, with travel revenue up 9% in the 13 weeks to the start of June, its high street business is struggling and is acting as a drag.

“Revenue is down 4% which is not surprising given the higher price points compared to its cheaper discount rivals in busy town and city locations. The US market offers opportunity and the winning of a contract in Detroit airport for four new stores is encouraging.

“Although the company says it’s positioned well for the busy holiday period comin”g up, investors will want to see an acceleration of its travel focused strategy.

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