March 5, 2019 / 9:59 PM / in 2 months

Australia's Myer swings to H1 profit

March 6 (Reuters) - Australia’s biggest department store operator Myer Holdings 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. ($1 = 1.4116 Australian dollars) (Reporting by Shanima A and Aditya Soni in Bengaluru; Editing by Sandra Maler)

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