Interim Management Statement

RNS Number : 3138F

WH Smith PLC

14 June 2012

 



WH SMITH PLC

Interim Management Statement

14 June 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 15 week period from 26 February 2012 to 9 June 2012.

CURRENT TRADING

Total Group sales in the first 15 weeks of the second half of the financial year were down 1% with like-for-like sales down 3% compared to the same period last year.

WHSmith Travel total sales were up 1% and like for like sales were down 3% in the period, with gross margin up and tight cost control. Our new store opening programme continues to progress well.

WHSmith High Street total sales were down 3% and like-for-like sales were down 4% in the period. Gross margins continue to grow and cost savings have been delivered in line with plan.

FINANCIAL POSITION

We confirm that our financial position is in line with market expectations and our balance sheet remains strong. We continue to generate high levels of cash from our operations. As of 13 June 2012, we have purchased 6.8m shares and returned to shareholders £36m of the £50m share buyback announced in August 2011.

 PROSPECTS

The economic environment remains uncertain and whilst we continue to be cautious about consumer spending, we remain confident in the outcome for the full year.

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Enquiries:

WH Smith PLC

Mark Boyle                             Investor Relations                              020 7851 8820

Nicola Hilman                         Media Relations                                020 7851 8850

Brunswick

Catriona McDermott                                                                          020 7404 5959

 

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