Myer grows into sales growth

Wilson Asset Management

Wilson Asset Management

Retailer Myer Holdings Limited (ASX: MYR) announced its half yearly results on Thursday, with the company posting its strongest sales growth in six years. Net profits fell 4% to $59.7 million, but that was well ahead of analyst forecasts, prompting CEO Richard Umbers to lift full-year guidance to $66 million to $72 million, from $64 million to $72 million previously. The announcement caused shares to rise 12.7% on the day and close up 8.8% for the week. We own Myer in the investment portfolio.

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Wilson Asset Management

Wilson Asset Management has a track record of making a difference for shareholders and the community for more than 20 years. As the investment manager for eight leading LICs – WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB),...

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