28 Jun 2009

Smiths City's operating profit falls

10:35 am on 28 June 2009

Christchurch-based retailer Smiths City Group says its operating profit fell 71% to just over $1 million for the April year.

The company says its operating revenues decreased 10% and same store sales dropped by 6%.

Smiths City will still pay a dividend for the full year of 1 cent per share, compared with 3 cents per share last year.