WH Smith IMS November 2012

DividendMax Ltd.

WH Smith IMS 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.

Companies mentioned