News: MYR UPDATE 1-Australia's Myer swings to H1 profit as cost-cutting measures bear fruit

(Adds CEO comment, forecast)

March 6 (Reuters) - Australia's biggest department store operator Myer Holdings (MYR) on Wednesday reported a first half profit, as a cost-cutting drive and efforts to prop up online sales began to show results.

Net profit came in at A$38.4 million ($27.20 million) for the six months to Jan. 26, compared to a loss of A$476.2 million for the same period a year earlier.

Total sales fell 2.8 percent during the period to A$1.67 billion.

"For the next period, we will be continuing to improve the online experience, better matching the store range, including concessions, and making further improvements to fulfilment," Chief Executive Officer John King said.

However, the company expects its sales for the second half of the financial year to be impacted by the exit of a number of brands, while it also expects higher interest and depreciation costs to continue.