Dick Smith beats prospectus sales guidance

Company News

Electronic retailer Dick Smith Holdings Limited (ASX:DSH) has beaten the sales guidance it forecast in its prospectus in November 2013 ahead of listing on the ASX in December.  
The company has reported unaudited sales of $1.228 billion for the year to June 29, compared to a forecast of $1.226 billion, on the back of a strong improvement in Australian sales. 
Over the full year Dick Smith expects to report EBITDA of $71.8 million and a net profit of $40 million when it releases its results on August 19. 
Dick Smith says the better than expected performance has been aided by growth in the fourth quarter despite challenging trading conditions. 
Today’s news comes after Dick Smith teamed up with Vodafone for a retail agreement and teamed up with Quickflix Limited (ASX:QFX) for a marketing partnership. 
Dick Smith booked a net loss of $4.9 million in the first half of the 2014 financial year.

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