BRICKS has just concluded a trip to Christchurch and an interview with SCY. MD Rick Hellings who pass on the following information about Smiths City position and the way ahead.

The current position of SCY is its expanding as much as possible against the changing trend of retail and the Norm Harvey type of expansion, by enlarging stores to a min of 20,000 square meters floor plates. At Greymouth, South Dunedin and Palmerston North.

Finance operations are a Diamond as it lets them do what the Bank love, to put it in a nut shell going gang busters.

The property division is small but moving ahead more in 2007.

North Island expansion will continue at a slower rate but more sound footing as most of all the nta of SCY is over 77 cents but all is paid for and little outside debt.

Conclusion. Rick is or seems comfortable with the company`s position with an eye on retail constant change and Australian attacks over the Tasman which says will hold Smith`s position and stated Div`s are approx 50% of profits which will be continued to be PAYED..