Dick Smith turns around under new owners

 In Australia, NewZealand, Woolworths
Consumer electronics business Dick Smith has smashed its prospectus earnings forecasts from its $520 million sharemarket float last year, casting further doubt on the decision by its former owner Woolworths to let go of the business in 2012.
On Wednesday Dick Smith unveiled it had recorded an underlying half-year net profit of $25 million while pro forma earnings before interest, tax, depreciation and amortisation (EBITDA) hit $41.7 million, exceeding prospectus forecasts of first half earnings of $40.2 million.
Sales for the period were at $637 million.  Sydney Morning Herald – Read more

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