Smiths City posts 2.6 percent gain in 1H profit in difficult trading conditions

Thu, 20 Dec 2012

Dec. 20 (BusinessDesk) – Smiths City Group, the Christchurch-based department store operator, posted a 2.6 percent gain in first-half profit saying retail conditions are difficult, especially for consumer electronics. Profit was $1.69 million in the six months ended Oct. 31, from $1.64 million a year earlier, the company said in a statement. Sales fell 0.2 percent to $109.7 million. Trading conditions “have been difficult,” said chairman Craig Boyce. “Household spending is restrained, appliance prices have fallen leading to lower dollar marg...

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