WH Smith expects FY results at top end of market expectations

Books and stationery retailer WH Smith Plc said it expects full-year results to be at the top end of market expectations and announced a fresh share buyback programme of up to 50 million pounds ($79.02 million).

The company said the board has decided to commence the share buyback for the financial year ending Aug. 31, 2013. It completed a similar share repurchase programme on Aug. 7.

The company, which sells newspapers, books and stationery, said its travel business continued to win new business.

The 220-year-old company said book sales rose in its High Street stores.

The company, which operates over 1100 stores primarily in the UK, said its travel and High Streets businesses remain highly cash generative.

WH Smith will announce its preliminary results on Oct. 11.

The company’s shares, which rose 22.5 percent in the last year, were up about 4 percent at 607 pence at 0704 GMT on the London Stock Exchange.

20120823-200746.jpg

Posted on August 24, 2012, in Other. Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: