Australia's oldest department store, David Jones, has posted record annual net profit of $109.5 million for the 12 months ended July 28, a 35% increase compared with $94.2 million in the prior-year period.

Second half earnings rose 44% year-on-year as a result of much higher footwear, clothing and cosmetics sales.

The results far exceeded expectations and the company predicts a further profit increase of 5-10% for the current financial year.

Share this story: