Specialist department store retailer David Jones has announced a 25.1% rise in net profits to $137.05 million for the 2008 year.

The retailer’s sales grew by 5.8% from $1.98 million in to $2.10 million. The company confirmed it’s 2009 earnings projection of a 5%-10% profit increase. DJ’ management expects to have to endure a cople of low quarters due to the effects of interest rates and high petrol prices compounded by the US financial termoil, however said that they have lots of flexibility in pricing.