AUSTRALIA: Record Year For David Jones

David Jones Limited ('David Jones') today announced a record full year profit result including a 22.4 per cent rise in profit after tax and before abnormals to $50.1m for the 52 weeks ended 29 July, 2000. Earnings before income tax, interest and abnormals increased 32.6 per cent from $67.1m in 1998/1999 to $89 million in 1999/2000. The 1999/2000 result relates to a 52 week period versus a 53 week period for the previous year and includes the recently acquired Aherns department store business in Western Australia. As previously reported, sales revenue increased 12.8 per cent for the year, to $1.53bn. This figure encompasses sales both prior to and after the GST changes on July 1. On 52-week comparable basis, sales were up 14.4 per cent.