Business
Myer profit jump not reliant on $51m JobKeeper, says CEO King – The Age
Myer chief executive John King has said the retailer’s jump in profits over the first half of the financial year was not reliant on JobKeeper payments, despite…
Myers half-yearly results on Thursday showed an 8.4 per cent jump in adjusted net profit to $43 million, despite the retailers sales plunging 13.1 per cent to $1.4 billion.
Earnings on a statutory level, which took into account impairments incurred in the prior corresponding half, rose 70 per cent. Earnings before interest, tax, depreciation and amortisation were largely flat on the prior corresponding half, down 1.7 per cent at $214.6 million.
Shares in the retailer fell 10 per cent to 30 cents…
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