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Embattled Dick Smith falls from ASX top 200

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Dick Smith’s fall from grace has continued with the electronics retailer losing its spot in the Australian share market’s list of top 200 companies.

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The retailer will be one of five companies cut on December 18 following the quarterly review of the benchmark S&P/ASX200 index, with energy firms Paladin and Drillsearch, mining and materials group Arrium and environmental consultant Cardno also on the way out.

Dick Smith’s share price has tumbled more than 80 per cent after it issued a pair of profit warnings following disappointing October and November sales.

Law firm Slater and Gordon was replaced by Sirtex Medical in the list of the 100 top companies.

It survives, however, in the ASX200 after its value plummeted following revisions to its reported results and investor concerns over UK compensation law changes.

AAP

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