Wh Smith Share Discussion Threads

[essentialinvestor] 14/11/2023 19:05

Arguably rightly so.

[this_is_me] 14/11/2023 18:22

Big rise since the results.

[this_is_me] 09/11/2023 08:04

"This has been another year of significant progress for the Group. Our Travel divisions have all seen strong growth with Travel UK total revenue up 36%, North America up 32% and ROW up 99%, and I am very pleased with the start to the new financial year.

"Our global travel business is growing in all our key markets. It is highly scalable with multiple medium and long term growth opportunities and we are seeing great results from sharing our expertise and innovation across our different geographies. Our North American business is benefitting from our forensic approach to space management which has always been a key feature of our UK Travel operations. In the same way, the ability of our North American business to provide bespoke retail formats is now being successfully harnessed outside of the US.

"WHSmith is a highly cash generative business. In 2024, we expect to invest a further GBP140m which will drive further growth and at the same time we expect our leverage to fall within our target range.

[kangaroo joe] 08/9/2023 08:20

Topped up - longish term hold

[essentialinvestor] 06/9/2023 15:11

Me three, wider markets look a tad bumpy going into autumn, might be
available lower down.

[panache1] 06/9/2023 14:42

I'm in. 1379

[gswredland] 06/9/2023 12:32

Clearly not
Looking to get in though

[hopefulalways] 06/9/2023 12:06

Market doesn't agree?

[ayl30] 06/9/2023 06:45

Solid set of numbers!

[this_is_me] 06/9/2023 06:13

Recovery from the pandemic almost complete and back to growing the business.

[ayl30] 05/9/2023 15:58

Looking positive leading up to more news

[kangaroo joe] 01/9/2023 10:42

Hoping for a move forward as all the analysts adjust their spreadsheets. More shops at airports, Toys R Us concessions, high margins, higher average transactions, on-line, funky pigeon, £114m windfall less tax looking likely, etc

[faz] 01/9/2023 07:16

End of the financial year yesterday

[ayl30] 29/8/2023 07:06

They will get a benefit from all those people stuck at airports following yesterdays disruption

[kangaroo joe] 25/7/2023 07:24

The accounting surplus was never recognised as an asset on the balance sheet because of uncertainty on whether the Trustee would ever agree to a refund, I guess, but I think actuaries/finance wonks would have been able to approximately calculate a buy-out position from the corporate bond yield based unrecognised surplus which was disclosed. Plus the management and bankers would have had discussions I suspect during the recently announced refinancing agreement. So it may be out there already, and a proposal out for consultation is some way off an actual payment being made.

[makinbuks] 25/7/2023 07:07

OK thanks, that is indeed interesting

[makinbuks] 25/7/2023 06:56

Interesting topic but don’t think it will move the dial on valuation. An accounting surplus measured on corporate bond yields will be a lot lower based on gilts/swaps which is how the insurance market will value it. If the asset were to be bought out there would be a capital loss in comparison to the surplus you refer to

[kangaroo joe] 25/7/2023 05:42

£114m pension surplus on the cards subject to tax - when city wakes up will it re-rate these I wonder? Or do they already know? Only a proposal at this stage apparently.

[kangaroo joe] 22/7/2023 15:38

Surplus letter received by relative - big windfall on cards - is it priced in?

[ayl30] 30/6/2023 04:26

Bang on strategyhttps://www.bbc.co.uk/news/business-66043903

[faz] 19/6/2023 14:42

Toysrus are opening in certain WHS stores. I'd be interested to know how that's going. I think there is a real gap in the market - the Works only sells cheap toys

[ayl30] 14/6/2023 14:35

Company says cost to them is better than previous refinancing