Dick Smith's NZ 1H sales fall, margins shrink in competitive market

Mon, 16 Feb 2015

By Suze Metherell Feb. 17 (BusinessDesk) - Dick Smith Holdings, the Australian consumer electronics chain, said its New Zealand unit's margins shrank and sales fell in a competitive market and a deterioration in consumer sentiment. Profit for the New Zealand unit more than trebled to A$952,000 in the 26 weeks ended Dec. 28, from A$250,000 a year earlier, the Sydney-based company said in a statement. Sales fell 9.3 percent to A$87.7 million, while earnings before interest, tax, depreciation and amortisation fell 52 percent to A$2.5 million...

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