NZX ANNOUNCEMENT 17.04.18 Smiths City Trading Update
(WorldNews Asia)

National furniture and appliance retailer Smiths City today reports tough trading conditions coupled with the impairment of leases on several persistently underperforming stores will result in the company posting a loss for the year to 30 April 2018. Smiths City now expects revenue for the year to range between $209.0 million and $213.0 million compared to the $227.4 million posted in the same period last year. Trading losses for the year are expected to range between $1.25 million and $1.75 million compared to a trading profit of $2.0 million last year. In addition to the trading loss, Smiths City expects to make an impairment provision of $4.8 million relating to the leases on stores that...