Smiths City shares jump 10 percent as FY profit climbs by more than a fifth

Thu, 27 Jun 2013

By Paul McBeth June 27 (BusinessDesk) - Smiths City, the Christchurch-based retailer, boosted annual profit by more than a fifth as a strong rural sector underpinned gains in the South Island. The shares climbed 10 percent to a three month high 65 cents. Net profit climbed to $5.4 million, or 10.21 cents per share, in the 12 months ended April 30, from $4.4 million, or 8.28 cents, a year earlier, the Christchurch-based company said in a statement. Sales were flat at $222.5 million, with the South Island outperforming a particularly weak tra...

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