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Interim Management Statement

14th Jun 2012 07:00

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.

 

 

- ENDS -

 

 

Enquiries:

 

WH Smith PLC

Mark Boyle Investor Relations 020 7851 8820

Nicola Hilman 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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