NATIONAL: David Jones has announced a record profit after tax up 10.2 per cent for the six months to January 23.
The figure of $100.5 million was up from $91.2 million in the previous corresponding period.
It achieved a 9.8 per cent increase in EBIT from $114.4 million to $125.6 million.
David Jones CEO Mark McInnes said the department store retailer had been stringent with management of costs, with a number of cost efficiency initiatives in place.
"These initiatives include putting the Company's advertising agency, energy, lift and escalator maintenance, media buying and catalogue printing and delivery contracts out to tender," he said.
He reaffirmed the company's projected profit after tax growth for the second half of the financial year of five to 10 per cent.
"In addition, we reaffirm out PAT guidance for FY11 of five to 10 per cent PAT growth. We note that to achieve the top end of this guidance the retail recovery will have to be in full swing, something Access Economics does not forecast until 2012," he said.