WH Smith profits rise, announces share buy back

LONDON, Oct 16 (Reuters) - British books, newspaper and stationery retailer WH Smith (LSE: SMWH.L - news) posted a 9 percent rise in full-year profit and announced a 50 million pound share buy back on the back of record profits this year in its travel division.

The firm, which has over 1,300 stores, primarily in the UK, said pretax profit for the year to end-August was 112 million pounds ($178.77 million), up from 103 million a year ago and in line with market forecasts.

"Looking ahead, our focus will remain on profitable growth, cash generation and investing in new opportunities that position us well for the future," said chief executive Stephen Clarke in a statement on Thursday.

WH Smith's long established pattern of declining sales accompanied by profit margin gains continued, with total sales down 2 percent but margins up 160 basis points thanks to a more profitable product mix and tight cost controls.

Total sales at the group's travel division, made up of outlets at airports, railways stations, motorway services, hospitals and workplaces, rose 4 percent. (1 US dollar = 0.6265 British pound) (Reporting By Ahmed Aboulenein, Editing by Paul Sandle)