DAVID JONES LIMITED

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DAVID JONES LIMITED

• Interim Results Presentation
• 13 March 2000

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Peter WilkinsonChief Executive
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Performance Overview
Improvement Sales 780.3m
9.6 EBIT 50.3m 23.3 PAT (before
Abnormals) 28.9m 12.9 EPS (before
Abnormals) 7.4c 13.9 Stock Turn 2.73
times 6.6
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Highlights

• Continued to grow market share
• Strengthened position in WA and Victoria
• Fundamental change in business continuing
  strongly- benefits still flowing through
• Well positioned to handle any demand swings
• Progress on growth strategy
• New CFO

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Key Drivers

• Buying department
• Exclusive brands
• Systems improvement
• Cost control
• Supplier relationships
• Customer Service
• Improved marketing

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Brian HillChief Financial Officer
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All the Key Financials showed strong growth on
the corresponding half
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Double digit growth in Profit after Tax was
offset by an Abnormal Item of 4.1m
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Earnings before Interest up 23.3 due to strong
growth in Retail Operations and Credit
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Higher Sales and well controlled costs
contribute to an increase in Retail Contribution
of 24.6
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Comparable store sales grew by more than all
DSS - gaining market share
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All major product categories performed strongly
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• Introduction of new brands
• Rebuilt buying capacity
• Supplier partnering

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Operational efficiencies and fee income drive
82 improvement in Credit Card profits despite
higher interest free

• David Jones Credit Card Change on
• Corresponding Half
• New approved Credit Cards 78
• - Without Shareholder Discount 22
• Operating Expenses 4
• Fee Income New
• Total Card Receivables 16
• Interest Free and Deferred Receivables 42

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Shareholder Discount has been a great success

• Highlights
• Shareholder Discount Accounts 21,706
• - New Accounts 11,449
• - Existing Shareholders 10,257
• Total Number of Shareholders 41
• - Shareholders gt 2000 shares 88
• - Shareholders lt 2000 shares - 5

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Abnormals Reduced Profit After Tax by 4.1m
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Negative Cash Flow primarily due to Capital
Return
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Balance Sheet has strengthened with Debt to
Equity decreasing from 52.3 to 36.5
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Adelaide Central Plaza sale improves Debt to
Equity to 20.6 on a pro-forma basis
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Peter WilkinsonChief Executive
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Growth

• Victoria and Western Australia
• Underlying growth (Value Proposition)
• Food Business
• Customer research positive
• Strong team
• Progress on leases
• E-Commerce
• Significantly progressed, hampers success
• Pure plays v. clicks and mortar
• multi-channel
• Full strategy briefing field day in June

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Outlook

• Environment in 2H will be impacted by GST
• Positioned to handle any swings in demand
• Continue to trade in line with expectations
• Maximising Shareholder Value over-riding
  corporate objective