Myer more than doubles its FY profit

Department store chain Myer has more than duobled its full-year profit to $60.5 million after growing sales revenue three per cent.

Total sales were up 2.94 per cent to $3.3 billion for the 12 months to July 30.

Chief executive Richard Umbers said the profit was in line with guidance and the results showed that the company's five-year turnaround plan had made good progress in just 12 months.