AUSTRALIA: Coles Myer Enjoys H1 Profit Growth
Australia's second largest retailer, Coles Myer Ltd, on Monday posted a 2.5 per cent year-on-year climb in first half net profit to A$217.9 million (US$130m) but said without tighter accounting rules it rose 28 per cent to A$272.4m. The Melbourne-based company has said last month that first half sales at its discount department stores Kmart and Target continued to improve, with sales up 9.5 per cent and 8.6 per cent, respectively.
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