David Jones fiscal profit up 14%

Australia-based department store operator David Jones has reported a profit after tax of A$156.5 million for the fiscal year ended July 25, 2009, up 14.2%, compared to A$137.1 million for fiscal 2008.

For fiscal 2009, sales were A$1.98 billion, down 5.4%, compared to A$2.1 billion for fiscal 2008. Total earnings before interest and tax were A$225.7 million, compared to A$212.9 million for fiscal 2008.

Mark McInnes, CEO of David Jones, said: "Despite an extremely challenging environment for all of the world's major economies over the past 12 months we are pleased to report that our company has delivered a record profit result and declared a record dividend - both being the highest since listing in 1995.

"Our ability to deliver both profit and dividend growth over the past 12 months demonstrates the strength of our business model. Looking forward we are well positioned to fully leverage the next upturn in the economic cycle."

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