Interim Management Statement

RNS Number : 9901V

WH Smith PLC

11 November 2010

 



11 November 2010                                                                          

WH Smith PLC

Interim Management Statement

WH Smith PLC is today publishing its Interim Management Statement as required by the UK Listing Authority's Disclosure and Transparency rules, relating to the period from 1 September 2010 to 6 November 2010.

CURRENT TRADING

Total Group sales in the first 10 weeks of the financial year were -2% compared to the same period last year.

WHSmith Travel like-for-like sales were -1%, in line with expectations. The new store opening programme continues as planned.

WHSmith High Street like-for-like sales were -4% in the period, in line with expectations. We continue to focus on delivering our strategy to rebalance the mix of our business towards our core categories.

FINANCIAL POSITION

The Group's financial performance in the current year has started in line with market expectations.

Further to our announcement on 14 October 2010 of our intention to return up to £50m of cash to shareholders via a rolling share buyback programme, we have purchased approximately 1.2 million shares to date at an average price of 481.328p.

PROSPECTS

We remain a resilient business and are well positioned for continued growth in the future. 

-ENDS-

Enquiries:

WH SMITH PLC

Mark Boyle                              Investor Relations          020 7851 8820

Sarah Heath                            Media Relations            020 7851 8850

BRUNSWICK

Catriona McDermott                                                       020 7404 5959

 

END

 

 

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