Premier Investments profit soars 21pc PREMIER Investments, the retailer behind brands including Just Jeans and Portmans, has brushed off the retail gloom and lifted its first-half profit by 21 per cent. The group, which has been rejuvenating its clothing brands, lifted its profit to $46.5 million while revenues rose 2.6 per cent to $460.3m. The rise in earnings was attributed to outstanding results from womenswear retailer chains Portmans and Dotti, as well as improved profits at Just Jeans and Jacqui E. Cost cuts also helped. Chief executive Mark McInnes did not give any guidance on the outlook for the retailer's full-year earnings. However, he said trading for the first six weeks of the second half of the group's fiscal year were in line with expectations. "Despite the severe pressures facing all Australian retailers, Premier continues to be well positioned to take advantage of all its growth opportunities," he said. Premier lifted its fully franked interim dividend by one cent to 19c a share. Chairman Solomon Lew said benefits from the retailer's six-point earnings improvement plan, which began 18 months ago, had helped lift profits. The group's costs had fallen 20 per cent, margins had improved and online sales were up by 51 per cent. While Portmans and Dotti had shown great improvements, work was underway to improve the Jay Jays jeans chain. Meanwhile, Premier plans to open more stores for its stationary brand Smiggle, which has been a huge hit in Singapore.