Retailer Smiths City Group has substantially increased its trading profit for the six months ended October and is back paying tax after a long period of claiming tax credits. A fully imputed half-year dividend of 1c per share was declared, compared with a 1c per share unimputed dividend in the pcp. After taking tax advice, Smiths City had decided to anticipate that by paying the dividend fully imputed. The acquisition of the furniture bedding chain Furniture City had enabled Smiths City to shift its mix of merchandise. The Smiths City "store owned finance" offer remained a vital part of the brand and reason for customers to return, he said.

Source: Otago Daily Times January 26, 2017 17:04 UTC