Myer first-half profit falls

Myer Holdings expects cost growth to moderate, Brookes looks forward to 'wholesome evaluation' of David Jones merger.

Myer Holdings (MYR) expects moderating cost growth and its maturing series of strategic initiatives to deliver an improvement in earnings momentum in fiscal 2015, despite a decline in first-half profit.

In the six months to January 25 Myer posted a net profit of $80.77 million, an 8.1% decline on the previous corresponding period's $87.92m.

The result was largely in line with analyst expectations that centred on an average forecast of $79.4m.


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