The combined Briscoes and Rebel Sport saw same-store sales growth up 6.77%, gross profit margins up from 39.97% to 40.73% and earnings before interest and tax gain 28.8% at $17.4 million.
Craigs Investment Partners broker Peter McIntyre said it was a strong result and in line with expectations.
"It seems they have taken market share off other participants, and it is also pleasing to see they have improved profit margins," Mr McIntyre said.
Briscoes shares were down 0.5% at $1.95 following the announcement.
Briscoes managing director, Rod Duke, who holds 75% of the shares, said strong sales and margin performance allowed the group to deliver a "very strong increase in bottom-line profit", compared with the corresponding period a year ago.
"These gains have been driven by our marketing strategies of offering customers products they want and need in ways that have reinforced the quality and value proposition of our brands," Mr Duke said in a statement.
For the six months to July, Briscoes sales increased 5.49% from $130.09 million to $137.24 million and Rebel Sport sales increased 5.46% from $64 million to $67.50 million.
"The group is well placed to better last year's full-year reported profit of $27.53 million," Mr Duke said.
An interim dividend of 4c per share was set, compared with 3.5c a year ago, representing 64% of the group's after-tax profit.
Mr Duke said Briscoes and Rebel Sport's sales gains reflected an improvement in market share.
