REG - WH Smith PLC - Trading Update <Origin Href="QuoteRef">SMWH.L</Origin>

WH SmithAnnouncement

28/01/2015 01:53

RNS Number : 6753C
WH Smith PLC
21 January 2015
 21 January 2015
WH SMITH PLC
Trading Update for the 20 week period to 17 January 2015
Good performance across the Group in line with plan
The Group delivered a good performance in the period with profit growth in line with plan. Total Group sales were down 1% with like-for-like (LFL) sales down 2%. 
In Travel, total sales were up 7% with LFL sales up 2%, with an improvement across all channels, particularly large airports. Gross margin continues to grow driven by category mix management. We continue to invest in growing the business by opening stores in the UK and internationally.
In High Street, total sales were down 5% with LFL sales also down 5%, in line with plan. Our initiatives to grow gross margin continue to deliver and our cost efficiency programme remains on target. 
The Group continues to be highly cash generative with a strong balance sheet. 
Commenting on today's announcement, Stephen Clarke, Group Chief Executive said:
"The Group delivered another good profit performance. Travel continues to benefit from the ongoing improvement in passenger numbers and the impact of our latest initiatives. In High Street, our strategy to create value through gross margin improvements and cost efficiencies continues to deliver profitable growth.
"It is important to recognise that this performance would not be possible without the hard work of all our colleagues, particularly those in our stores at this time of year.
"Looking forward, we remain focused on profitable growth, cash generation and investment in new opportunities and are confident of making further progress."
Enquiries:
WH Smith PLC
Nicola Hillman Media Relations 020 7406 6350
Mark Boyle Investor Relations 020 7406 6320
Brunswick 
Simon Sporborg / Cerith Evans   020 7404 5959
Advance Notice of Interim Results
WH Smith PLC will announce its Interim Results 2015 on Thursday 16 April 2015. 

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