WH Smith to return up to £35m to investors after meeting forecasts

Oct 16 2009 by John Cranage, Birmingham Post

Retailer WH Smith has vowed to return up to £35 million to investors after it met forecasts with an eight per cent rise in full-year profit.

The 217-year-old seller of newspapers, books and stationery said it would return cash through a share buyback and a 17 per cent rise in the full-year dividend to 16.7p.

It also said it would open six units at Delhi airport in India next year, having started trials at Shannon in Ireland, Copenhagen, and Stockholm-Arlanda this year. “These trials really provide us with a very low risk way of seeing what opportunity there is,” chief executive Kate Swann said.

Shares were up 1.6 per cent at 505 pence at one point yesterday, valuing the business at £779 million, having touched 521p. The stock has increased in value by 22 per cent in six months.