Dick Smith FY profit beats forecast

By Maggie Lu Yueyang

In June, Dick Smith said it beat its prospectus sales guidance after announcing unaudited pro forma sales of $1. 23 billion on a strong improvement in Australian sales. Australian sales grew 7. 8 per cent in the full year.

Electronics retailer Dick Smith posted a better full-year profit than its prospectus forecast, driven by improving Australian sales.

Dick Smith had given a pro forma prospectus forecast of $40 million in net profit after tax for fiscal 2014 when it listed on the ASX last December after coming out of private equity hands.

The retailer made a pro forma net profit after tax of $42. 1 million in the year to June 29, which was 5. 3 per cent better than the company’s own forecast given in the prospectus for its IPO.

Read more here: Business Spectator


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