Smiths City Group Limited announced earnings results for the six months ended October 31, 2016. For the period, the company reported 46% drop in first-half profit as it faced new restructuring costs and a year-earlier gain on its Colombo St store wasn't repeated, even as underlying earnings and sales rose. Net profit fell to $1.4 million, or 2.6 cents per share from $2.6 million, or 4.8 cents, a year ago. Stripping out $695,000 of restructuring costs and a $1.8 million gain on a property sale in 2015, trading profit rose 67% to $113.9 million on a 7.2% increase in revenue to $113.9 million. The company's retail business continued to dominate revenue with sales up 8% to $109.3 million, generating a profit of $611,000 compared to a loss of $149,000 a year ago.