Interim Management Statement

RNS Number : 0355R

WH Smith PLC

14 November 2012

 



WH Smith PLC

Interim Management Statement

14 November 2012

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 10 week period from 1 September 2012 to 10 November 2012.

CURRENT TRADING

Total Group sales in the first 10 weeks of the financial year were down 3% with like-for- like sales down 4% compared to the same period last year.

WHSmith Travel total sales were flat and like-for-like sales were down 4%. Gross margin has increased in line with our plan and our store opening plan continues to make good progress both in the UK and internationally. 

WHSmith High Street total sales and like for like sales were down 5% in the period. Gross margin has increased in line with our plan and costs continue to be managed tightly.

FINANCIAL POSITION

On 23 August 2012 we announced our intention to return up to £50m of cash to shareholders via a rolling share buyback programme. As at 13 November 2012, we have purchased 0.9 million shares and returned £6m to shareholders.

The Group's financial position is in line with market expectations.

PROSPECTS

Whilst the current climate continues to be challenging, we remain a resilient business and are well positioned for continued profitable growth.

-ENDS-

Enquiries:

WH SMITH PLC

Mark Boyle                                                     Investor Relations      020 7851 8820

Nicola Hillman                                                Media Relations        020 7851 8850

Brunswick

Simon Sporborg / Catriona McDermott                                          020 7404 5959

 

END

 

 

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