Coles Myer in Q1 lift


Coles Myer has reported a 20.7 per cent rise in sales in its Q1 of fiscal 2005.

Australia’s largest retail group posted revenue of A$8.5 billion ($6.5 billion), with same-store sales up 5.4 per cent. Officeworks turned in another strong performance with overall sales up 8 per cent, and up 5 per cent on a comparative basis.

Coles Myer’s CEO John Fletcher said: "This is another strong result, building on the growth momentum already achieved."

Melbourne (AUS)