Australian retailer Coles Myer has reported first-half net profit of A$217.9m (US$130.8m), a rise of 2.5% after a one-off charge compared to the year-ago period.
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Coles Myer, Australia’s biggest retailer with 1,800 stores throughout Australia and New Zealand, also backed its full-year net profit forecast of $425m to $435m, up 20-23% year-on-year.
The retailer said its underlying net profit for the 26 weeks to 26 January was up 28.3% year-on-year to $272.4m, excluding a one-off charge of $76.5m to align its accounting with new US accounting rules.
