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WH Smith PLC (SMWH)

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Thursday 23 August, 2012

WH Smith PLC

Pre Close Trading Update

RNS Number : 5899K
WH Smith PLC
23 August 2012
 



23 August 2012                                                   

 

                              

     WH SMITH PLC

                                    

PRE CLOSE TRADING UPDATE

 

 

WH Smith PLC will announce preliminary results for the year ending 31 August

2012 on Thursday 11 October 2012. Prior to its close period, the Company today issues the following pre close update.

 

The Travel business continues its good performance despite the current economic climate and its UK store opening programme remains on track. We continue to manage costs tightly and have delivered strong gross margin gains driven by good mix management. Travel continues to make good progress in winning new business in its international channel.

 

In the High Street business our focus on gross margin and tight cost control continues to deliver a good performance. In addition, High Street has seen an improvement in the sales trend of books following the recent positive publishing schedule.

 

WH Smith PLC expects the outcome for the year to 31 August 2012 to be at the top end of market expectations.

 

Both businesses remain highly cash generative.

 

2012 Preliminary Results

 

The WH Smith PLC preliminary results investor and analyst presentation for the year ending 31 August 2012 will be held at 9.00 am on Thursday 11 October 2012 at Merrill Lynch Financial Centre, 2 King Edward Street, London EC1A 1HQ.

 

Management Long Term Incentive Plans

 

The Group currently has in place a number of long term incentive plans: the 2009, 2010 and 2011 Long Term Incentive Plans as well as the 2010 Management Investment Plan.

 

The Remuneration Committee has agreed that it will exclude the benefit of changes in government tax policy, when calculating earnings per share (EPS), for these plans. As a result, the maximum and threshold EPS targets for each incentive plan are now higher than the original targets.

 

                                     -Ends-

 

Enquiries:

 

WH Smith PLC

Mark Boyle                   Investor Relations               020 7851 8820

Nicola Hillman               Media Relations                  020 7851 8850

 

Brunswick

Simon Sporborg                                                020 7404 5959


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