WH Smith in dividend hike on profit rise

first_img whatsapp Thursday 14 October 2010 8:29 pm KCS-content WH Smith yesterday forecast another rise in profits this year, saying the low average spend of its shoppers protected it from government austerity measures.The retailer, which trades from 573 high street stores and a 516-outlet travel division with units at airports, train stations, hospitals, motorway service stations and workplaces, was relaxed about the impact on its business of next week’s public sector spending review.“Relative to other retailers our average transaction value is pretty low at around £5 so we are less affected during a downturn or tougher economic times,” chief executive Kate Swann said.Swann was speaking after WH Smith beat forecasts with a nine per cent rise in 2009-10 profit, lifted its final dividend by 18 per cent and said it would return up to another £50m to shareholders through a buyback programme.Prior to the update, shares in WH Smith had increased by 10.4 per cent over the last three months,WH Smith made a year to August 31 underlying pre-tax profit of £89m.The group said total sales fell two per cent to £1.31bn, with sales at stores open more than a year down four per cent and gross margin up 160 basis points. Swann’s strategy is based on cutting costs and improving gross margins by focusing on more profitable products – moving away from entertainment products — CDs, DVDs, and computer games. Share Show Comments ▼center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times WH Smith in dividend hike on profit rise whatsapp More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSidney Crosby, Alex Ovechkin are graying and frayingnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com Tags: NULLlast_img

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