Smiths City shares rise 5.8% as sales growth buoys first-half earnings

Thu, 20 Dec 2018

By Paul McBeth Dec. 20 (BusinessDesk) - Smiths City shares rose 5.8 percent after the retailer's first-half earnings were buoyed by increased sales, although a tax adjustment kept the bottom line in the red. The company reported a net loss of $100,000 for the six months through November, having broken even a year earlier. A $700,000 deferred tax charge wiped out its $600,000 of underlying earnings. The finance unit underpinned earnings, with revenue rising 7.9 percent to $4.1 million for a trading profit of $2.1 million. That was down 13...

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