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Annual Results

WH Smith improves FY pretax profit

13 October 2016 07:45

WH Smith has improved its FY pretax profit to £131m, from £121m, with dividend per share rising to 43.9p, from 39.4p.

"Looking ahead, we will continue to focus on profitable growth, cash generation and investing in new opportunities. While the economic environment is uncertain, we are well positioned for the current year and beyond," said CEO Stephen Clarke in a statement.

"We have delivered a good performance across the Group with earnings up 10%," he added.

"Our Travel business continues to perform well with strong sales across all channels and profit up 9%. We have further extended our food to go ranges and during the year we sold over ten million 'meal deals'. Internationally, we have won a further 32 stores in the year, giving us a total of 232 stores won across 25 countries.

"In the High Street business, our profit focused strategy continues to deliver sustainable growth with profit up 5%. Stationery sales have been strong in the year and in Books we are delighted with the success of the Zoella Book Club which launched during the summer.

"The Board has proposed a 12% increase in the final dividend and we have today announced a further share buyback of up to £50m reflecting the Group's strong cash flow and our positive outlook for the future.

"This performance is only possible through the ongoing hard work and commitment of our 14,000 colleagues across the business and I am grateful for their continued support."

Story provided by StockMarketWire.com

Related Company: SMWH

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