WH Smith has released its trading update today for the period to January 17th, with a good performance across the group.

In the travel sector, the company saw a rise of 7% with like-for-like sales up 2% especially in large airports as gross margin continued to grow. However, on the high street sales fell by 5% with like-for-like sales also down 5% although its cost efficiency programme remains on target with a solid balance sheet.

Stephen Clarke, group chief executive said: "The group delivered another good profit performance. Travel continues to benefit from the ongoing improvement in passenger numbers and the impact of our latest initiatives. In high street, our strategy to create value through gross margin improvements and cost efficiencies continues to deliver profitable growth.

"It is important to recognise that this performance would not be possible without the hard work of all our colleagues, particularly those in our stores at this time of year.

"Looking forward, we remain focused on profitable growth, cash generation and investment in new opportunities and are confident of making further progress."

The company will be announcing its interim results on 16 April 2015.