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Interim Management Statement

11th Nov 2010 07:00

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

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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