Half Year 2021 WH Smith PLC Earnings Presentation Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Richard Michael Taylor - Barclays Bank PLC, Research Division - Analyst : Other one on funkypigeon. Can you give us some more concrete sort of growth aspirations for that business? I think you said mid-teens profit for this year, but should we expect that in the 20s on a sort of medium-term view? And obviously, it's performing very well for you as the sort of owner or manager of it. But do you think it sits naturally in the group from a medium-term perspective? And secondly, just on competition. Obviously, we've seen the Dixons news and you've commented on it. But can you give us a few more examples elsewhere around the world in terms of what you're seeing on the supply side in terms of your potential opportunity to grow the site pipeline beyond the hurdles that you disclosed this morning?

Question: Harry J. Gowers - JPMorgan Chase & Co, Research Division - Analyst : I've got 3 questions, if I can. First one is just on North America. In terms of those leases coming up for renewal across the market, is that split pretty evenly over the coming years? Second one is on ATV. If you could just remind us what the ATV was pre-COVID in Travel? And if you have a midterm target in mind where that could get to? And the third one was just on InMotion. So obviously, you've got the 2 new stores in resorts now. I was just wondering what the white space available there is InMotion in those resorts. What could that number get to? And could InMotion also be exported to any other formats like Rail in North America? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 29, 2021 / 7:30AM, SMWH.L - Half Year 2021 WH Smith PLC Earnings Presentation

Question: Paul Rossington - HSBC, Research Division - Analyst : On the one -- sorry, the GBP 50 million that you've earmarked for the GBP 100 million concessions, can you tell me how are you going to spend that GBP 50 million? Is this publicly feels like quite a big number for GBP 100 million concessions? And is that kind of spent the concession consistent with what you've spent on concessions historically? A just color around that would be great.