ANALYST VIEWS? CAN WH SMITH SUSTAIN ITS UPTURN

RICHARD HUNTER | HARGREAVES LANSDOWN

The positive triple whammy of stronger profits, an increased dividend
and a continuation of the share buyback programme has been well received
by investors. This may be enough to begin to turn around what has been a lacklustre share price performance of late.

KATE CALVERT | SEYMOUR PIERCE

Management is turning the business into a sustainable growth story. We remain positive on WH Smith, attracted by its defensive qualities, strong cashflow and the fact that management is turning the business into a sustainable growth story with travel now accounting for over 50 per cent of EBIT. We think investors will welcome the news.

RAMONA TIPNIS | SHORE CAPITAL

The company announced a further £50m rolling share buyback, which will continue to drive EPS growth ahead of PBT growth. Concerns further out with regards to the launch of the iPad {having an adverse effect on book and paper sales} are not reflected in these numbers and the shares will likely open up as a result.