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BRIEF-Smiths City Group ‍announces planned return of NZ$5.7 million to shareholders​
June 2, 2017 / 6:26 AM / 4 months ago

BRIEF-Smiths City Group ‍announces planned return of NZ$5.7 million to shareholders​

June 2 (Reuters) - Smiths City Group Ltd:

* ‍Announces a planned return of NZ$5.7 million to shareholders​

* Smiths City forecasts preliminary unaudited operating earnings for year to 30 April 2017 will range between NZ$1.9 million and NZ$2.1 million

* ‍Capital return will see Smiths City acquire and cancel three in every twenty shares at 72 cents per share​

* A weakening in sales and earnings momentum, particularly in Q4, has followed on from a softening in consumer sentiment

* “Operating earnings for second half of year are forecast to be lower than $1.5 million achieved in first half of financial year”

* “Smiths City expects to pay a final dividend as it has in previous years”

* Tougher trading conditions in second half of financial year have slowed strong rise on prior year’s $1.3 million operating result

* All figures in NZ$ Source text for Eikon: Further company coverage:

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