Department store retailer Myer Holdings Ltd (ASX:MYR) has surprised the market by posting a better than expected interim profit.
Net profit increased, a modest 1 per cent, to $88 million dollars.
Total sales for the period also beat expectations, rising to $1.73 billion.
Myer chief Bernie Brookes remains cautious about negative impacts on consumer spending in the second half, particularly the slow down, traditional brought about by a Federal election.
Myer didn’t provide any financial guidance, although Investors will receive a fully franked interim dividend of 10 cents, unchanged on last year.
MYR Price at posting:
$2.95 Sentiment: None Disclosure: Held
