MELBOURNE, Sept 11 (Reuters) - Private equity firm TPG will list Myer, Australia's largest department store chain, on the local stock exchange this year, Myer said on Friday, adding that Myer profits and sales were running ahead of forecast.
Myer, bought by a consortium of TPG Capital, Blum Capital and Myer Family Co for A$1.4 billion ($1.2 billion) in 2006, gave no more details on the plans for an initial public offer, other than it would lodge a prospectus on or about September 28.
The IPO announcement was contained in a statement of earnings for the year ended July 25, when earnings jumped 14.8 percent to A$109 million, ahead of forecast, Myer said.
It forecast sales growth of 3 percent for the current financial year and 10 percent growth in earnings before interest and tax, "assuming current trends continue".
The department store chain has 65 stores across Australia, compared with 36 for main rival David Jones Ltd, and turnover of about A$3.3 billion ($2.8 billion). ($1=1.158 Australian Dollar) (Reporting by Victoria Thieberger; editing by Mark Bendeich)