Kathmandu reports hefty net profit lift March 26, 2013 - 9:47AM Kathmandu has defied difficult retail conditions to post a hefty rise in first half profit as new stores performed well and online sales grew. Kathmandu reported a 72.7 per cent rise in first half net profit to $NZ10.33 million ($A8.33 million). The result was above company estimates of net profit between $NZ9.5 million and $NZ10 million, issued in February. Revenue rose 13.1 per cent to $NZ165.9 million. Kathmandu chief executive Peter Halkett said the company opened nine new stores in the half and grew its online sales by 50 per cent. "Along with the continued growth in online sales, the new stores we opened in a variety of locations and formats have generally met or exceeded our sales expectations," Mr Halkett said in a statement on Tuesday. While the company did not offer specific earnings guidance, Mr Halkett said the strength of its Australian operations and effective cost management "should deliver a strong profit outcome for 2013." Mr Halkett said sales through February and March had been hit by hot and dry weather in Australia and New Zealand. "However, as we have only just commenced our Easter sale, which is the second of our three largest promotional events each year, it is still too early to assess with reasonably certainty the overall result for the full year," he said. The company, which is listed in both Australia and New Zealand, declared a fully franked interim dividend of three NZ cents per share.