WH Smith PLC (SMWH) - Interim Management Statement RNS Number : 0355R WH Smith PLC 14 November 2012 WH Smith PLC Interim Management Statement 14 November 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 10 week period from 1 September 2012 to 10 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. PROSPECTS Whilst the current climate continues to be challenging, we remain a resilient business and are well positioned for continued profitable growth. -ENDS- Enquiries: WH SMITH PLC Mark Boyle Investor Relations 020 7851 8820 Nicola Hillman Media Relations 020 7851 8850 Brunswick Simon Sporborg / Catriona McDermott 020 7404 5959 This information is provided by RNS The company news service from the London Stock Exchange END IMSBJBATMBABBPT -0- Nov/14/2012 07:00 GMT
WH Smith PLC SMWH Interim Management Statement
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