International News - Profits rise at Coles Myer

Coles Myer, Australia's biggest retailer, reported a 21 per cent rise in full-year net profit to A$429.5 million (£176 million). This was boosted by its Myer Grace Bros department store division, which made an A$25.2 million (£10.3 million) profit compared with a A$25.2 million (£10.3 million) loss last year.