The unlisted retailer made a net profit for the half year ended January 24 of $79.84 million, up from $78.02 million in the first half of fiscal 2008.
Group sales revenue was $1.54 billion, down from $1.63 billion, excluding GST charges and revenue deferred under customer loyalty programs.
Goods sales totalled $1.76 billion, down 3.7 per cent, as previously announced in February.
First half earnings before interest and tax (EBIT) rose 6.3 per cent to $161.30 million, from $151.76 million.
The EBIT result was better than the retailer's guidance in February for a first half earnings growth of between 1 and 6 per cent.
"The 2009 half year has delivered continued improvement in the profitability of the company," it said.
"Sales have performed well current market conditions, with total sales (excluding concessions) down 3.7 per cent and comparable store sales also down 3.7 per cent.
"Consumer sentiment has continued to be poor throughout the half."
Myer said a continuing focus on cost management had lowered its selling and administration expenses during the period.
Capital expenditure was up 38 per cent to $57 million in the first half.
Net debt was steady on $652 million and Myer had $244 million of cash as at January 24.
"Inventory has been tightly managed during the period and as a result is 3.3 per cent down on the same time last year," it added.
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