Sydney, Aug 8, 2007 (ABN Newswire) - David Jones has recorded an increase in fourth quarter sales. Sales for the up-market Australian retailer rose 12 per cent to $509.4 million. The retailer says the growth was due to outstanding winter discount sales and a shift in strategy at its rival Myer, which has moved slightly down market. David Jones also reaffirmed its 2008 guidance of an increase in earnings of between 8 and 13 per cent. David Jones recovered from a loss in 2003 to produce an increasing run of profits over the last 3 financial years.
Stockland has posted a solid increase in its full year profit. Earnings for the year to June 30 rose 10.3 per cent to $611 million. The property developer put the result down to investment property revaluations, low vacancy rates and increased development pipelines. Stockland owns more than $10 billion in housing estates, shopping centres, and office buildings. Stockland has produced profits over the last 5 financial years.
Regardless of who wins what at next year's Beijing Olympics, Australia is now guaranteed to be represented on the winner's podium at every event. BHP Billiton has announced that its Australian and Chilean operations will provide the raw materials for the 2008 Olympic and Paralympic Games medals. Chief executive Chip Goodyear says providing the metals for the games' medals showcases the company's position as the world's largest diversified miner. It follows contributions by the company to both the Sydney 2000 Olympics and the 2006 Commonwealth Games in Melbourne. BHP Billiton produced record earnings in 2006
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