WH Smith PLC — Management Reports 2013

Nov 14, 2013

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RNS Number : 9385S

WH Smith PLC

14 November 2013

WH Smith PLC

Interim Management Statement

14 November 2013

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 2013 to 9 November 2013.

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 up 2% and like-for-like sales were down 2%. 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 and like-for-like sales were both down 6% in the period. We have made further progress on gross margin and costs continue to be managed tightly.

FINANCIAL POSITION

On 10 October 2013 we announced our intention to return up to £50m of cash to shareholders via a rolling share buyback programme. As at 13 November 2013, we have purchased 0.65 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 uncertain, we remain a resilient business and are well positioned for continued profitable growth both in the UK and internationally.

Enquiries:

WH SMITH PLC

Mark Boyle                                                     Investor Relations      020 7406 6320

Nicola Hillman                                               Media Relations        020 7406 6350

Brunswick

Simon Sporborg / Catriona McDermott                                         020 7404 5959

This information is provided by RNS

The company news service from the London Stock Exchange

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