Retailer Briscoe Group reported unprecedented rise in its half year net profit at $6.52 million, almost double from $3.09 million reported in the same period last year.

Group Managing Director Rod Duke said that the profit is in line with company's earlier guidance and its main concern is to maintain the growth for the next half year.

Mr. Duke added that firm's inventory management and cost control methods worked well and helped to increase its margin. The company is still moving cautiously given to uncertain conditions of the financial market.  Mr. Duke informed, "The challenge for us has been to drive profitability without the reliance on substantial top-line sales growth."

The group, with subsidiaries Briscoes Homeware, Living & Giving, Urban Loft, and Rebel Sport, has announced to pay interim dividend of 2 cents per share against 1cent per share paid last year.

Some of its stores are facing stiff competition from existing players. However, all of them reported satisfactory growth.