WH Smith moves at its fastest in eight years after a travel boost

WH Smith was today on course for its best day on the stock market in eight years after predicting its full-year profit would grow faster than expected.

Shares in the stationery and books seller rocketed by 113p, or 7.6%, to 1593p and headed for their biggest one-day gain since January 2009.

It followed a prediction that its full-year profit would be “slightly ahead” of forecasts after strong sales growth in its travel business.

Analysts had expected Smiths to make a pre-tax profit of about £136 million this year, but Smiths boss Stephen Clarke said estimates will probably now move up to £138 million.

Revenue from travel rose 5% in stores open for more than a year in the 21 weeks to January 21, while high street sales fell 3%. Group same-store sales rose 1%.

Books sales were lifted by the hit Ladybird for Grown Ups series.