Retailer Kirkcaldie & Stains Ltd is feeling the effects of a slowing economy, reporting a 30 percent fall in annual profit.
The high end retailer said it is experiencing a difficult retail environment like many retailers throughout the country.
The profit after tax was $778,000 in the year ended August 31, down from $1.106 million in the same period last year.
The profit before tax of $1.29m was down 21 percent from the $1.63m in the same period last year.
The company declared a final dividend 3 cents a share, payable on December 15 to shareholders on the register on December 5.
The company continued to upgrade and enhance the main store during the year, particularly in the cosmetics gallery.
The highlight during the year was the opening of the new exclusive Mecca Cosmetica department.
Despite these challenging economic conditions retail sales were almost level with last year at $40.4m, compared to $40.5m.
