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WH Smith confirms good performance with final dividend up 13%

WH Smith confirms good performance with final dividend up 13%

Thu 11 Oct 2018 07:51 by about : trading updates - 0 Comments - 3853 words

ood performance across the Group with final dividend up 13%


Group Financial Summary


12 months to



Aug 2018


Aug 2017







Travel trading profit*





High Street trading profit*





Group profit from trading operations*










Headline Group profit before tax*





Headline earnings per share*










Group profit before tax





Diluted earnings per share










Dividend per share










Revenue performance





Travel revenue





High Street revenue





Group revenue






Stephen Clarke, Group Chief Executive, commented:


"We have delivered a good performance across the Group.


"Travel accounts for over half our sales and two thirds of our profits and continues to perform strongly with revenue growth of 8% in the year.  This performance has been driven by our ongoing investment in stores and growth in passenger numbers. Profit in Travel is up 7% to £103m. 


"We have a fast growing international business with 286 units open across 27 countries and 50 airports. We are pleased to have won 42 new units this year including some significant tenders in South America and Europe. 


"We had a good year in High Street despite the well documented challenges of the UK high street. During an encouraging second half, the business traded well and we quickly identified the latest trend in the market, becoming a one-stop-shop for all slime related products.  Despite this good performance, we are not ignoring the broader challenges on the UK high street and, during the second half, we conducted a business review to ensure our High Street business is fit for purpose now and for the future.


"The Board has proposed a 13% increase in the final dividend and we have today announced a further share buyback of up to £50m reflecting the Group's cash generation and our confidence in the future prospects of the Group.


"This good performance is only possible through the hard work of all of our colleagues across the business and I am sincerely grateful for their ongoing support.


"While there is some uncertainty in the economic environment, we are pleased with the start to the new year in both businesses, and will continue to focus on profitable growth, cash generation and new opportunities to profitably invest for the future.  We are well positioned for the current year and beyond."


*   Denotes first instance of an Alternative Performance Measure (APM) term defined and explained in the Glossary on page 35.

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