Founded in Christchurch in 1918 by Henry Cooper Smith - Smiths City Group Limited is a Christchurch based holding company active in three complementary industry segments – Retail, Property & Consumer Finance.
Smiths City transformation underpins earnings increase Ongoing operational improvements and a refresh of the brand & store formats are supporting the business in the face of a challenging trading environment. Highlights Revenue increases 2.5% to $227.4 million from $221.9 million, assisted by rising same-store sales and the first full-year contribution from Furniture City. Trading Profit
Annual operating earnings* to range between $1.9 million and $2.1 million; performance improvement initiatives continue to deliver results but trading conditions weaken in the second half of the 2017 financial year. Smiths City Group (NZX.SCY) today announces a planned return of $5.7 million to shareholders as it continues to drive performance improvements across the company.
Smiths City (Southern) Limited is the Group's trading arm. This company operates through Smiths City, with centralised back office support functions. The over-riding retail strategy centres upon the retailing of branded products.