This is what I like to see. Hopefully more good things to...

This is what I like to see. Hopefully more good things to come.

RECORD RESULT
FY08 PROFIT* UP 25.1% & DIVIDEND UP 22.7%
FY09 PROFIT GUIDANCE REAFFIRMED - AT LEAST 5%-10% GROWTH
David Jones Limited (DJS) today reported underlying Profit after Tax* (PAT) of $137.1 million for the year ended 26 July 2008. This represents an increase of 25.1% on PAT for FY07 (of $109.5 million).
David Jones Chief Executive Officer Mr Mark McInnes said, “Despite a very challenging retail environment, in particular in 2H08, we are pleased to report that our Company has delivered a record Profit result and declared a record Dividend – both being the highest since listing in 1995.
“Our performance during the recent slowdown in 2H08 demonstrates the ability of our business model to continue to deliver profit and dividend growth throughout the economic cycle. Our confidence in our ability to continue delivering growth in shareholder returns is bolstered by the progress we are making in the implementation of our FY09 – FY12 Strategic Plan,” Mr McInnes said.

· Highest Full Year Profit Result & Dividend since 1995 listing
· Sales Revenue in excess of $2 billion - having grown more than $420 million since 2003 with essentially the same store base.
· FY08 PAT* up 25.1% to $137.1 million ($109.5 million in FY07)
· 2H08 PAT* up 25.0% to $48.1 million ($38.5 million in 2H07)
· Total Company EBIT of $212.9 million
· Total Company ‘EBIT to Sales Ratio’ up 130 basis points (10.2% FY08 vs. 8.9% FY07).
· Gross Profit Margins 39.5% (FY08) vs. 39.3% (FY07)
· Cost of Doing Business (CODB) reduced by 110 basis points (31.2% in FY08 vs. 32.3% in FY07)
· 2H08 Dividend up 23.1% (16 cents per share (cps) in 2H08 vs. 13cps in 2H07).
FY08 Dividend up 22.7% (27cps in FY08 vs. 22cps in FY07)
· Reaffirms guidance of at least 5% - 10% PAT growth for FY09