The group recorded headline earnings per share (HEPS) of 277.6 cents, from 242.7 cents.
Truworths said having considered the transitional arrangements relating to the phasing out of Secondary Tax on Companies (STC) and its replacement with Dividends Tax, it has decided to defer its interim dividend until after 1 April.
The company's trading profit was up 15% to R1.4 billion rand, while operating profit increased 14% to R1.7 billion. Revenue was up 11% to R5.1 billion.
Group retail sales increased by 10.7% to R4.8 billion for the period, and comparable store retail sales grew by 6.2% while product inflation averaged 8%.
The group said inventory levels were higher at period-end as it imported merchandise earlier for the upcoming season to avoid potential supply disruptions resulting from the Chinese New Year holiday period commencing in January 2012 - two weeks earlier than the prior period. This resulted in the inventory turn decreasing to 6.2 times from 6.6 times in 2010.
During the period under review, trading space increased by 4.5%, following the opening of one Truworths, 10 Identity and three Uzzi stores.
Truworths' annualised returns on equity and assets were 45% and 49% from 44%, and 47% respectively.
Gross trade receivables grew by 17% to R3.9 billion, with the group's active account base growing by 14% to approximately 2.4 million accounts.
"The growth in the trade receivables book is attributable to group credit sales growing 15% over the prior period and a continuing shift from shorter-term interest-free to longer-term interest-bearing payment plans," it said.
Since the June 2011 financial year-end cash and cash equivalents have increased by R304 million to R1.8 billion at the period-end, Truworths said.
Capital expenditure of R132 million has been committed for the remainder of the 2012 financial period, the retailer said.
Annual growth in trading space is planned at approximately 6%, with 13 stores expected to open in SA and six in the rest of Africa in the second half of the 2012 financial period.
Truworths said retail sales for the first eight weeks of the second half of the 2012 financial period increased by 11.1% over the corresponding period in 2011 compared to 9.8% for the first eight weeks of the second half of the 2011 financial period.
"Generally subdued economic growth is expected for the remainder of the 2012 financial period.
"Product inflation is anticipated to remain between 6% and 8% for the balance of the 2012 financial period," it said.
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