27 Jun 2013

Smiths City's full year profit up one fifth to $5.4m

9:13 pm on 27 June 2013

Smiths City's full year profit has jumped a fifth with a strong performance from its stores in Christchurch.

The department store made an after tax profit of $5.4 million in the 12 months to the end of April, compared with $4.4 million for the same period last year.

The company's chair Craig Boyce says it has been a challenging but overall successful year for the firm.

He says it's partly due to finalising the insurance situation on Smith City's Christchurch properties.

Mr Boyce says overall trading is still subdued and although Christchurch is probably the best, it's still slow.