Shares in furniture retailer Fantastic have jumped nearly seven per cent after it reported a sharp rise in half year profit and a special dividend.
Fantastic's net profit rose 43 per cent to $6.97 million in the six months to December 28.
Group revenue was up 8.7 per cent to $244.3 million due to strong like-for-like sales growth.
The sale of its Dandenong Property In Melbourne's east and its Dare Gallery furniture business have also helped.
Managing director Stephen Heath said strong sales growth continued in January and February with like for like growth of 9.2 per cent.
"We are pleased to report that all business units reported a profit and strong like-for-like sales growth," he said.
"We are extremely pleased with the turnaround of the Plush business ...".
He said new products within Fantastic Furniture and Plush helped drive the increase in sales.
However, he warned that the falling value of the Australian dollar would offset some of the gains until the market begins to reflect this impact into prices.
An interim dividend of six cents and a special dividend of four cents will be paid on April 8.
Shares in Fantastic rose 6.8 per cent, or 14 cents to $2.20 at the close on Thursday.
FANTASTIC TURNAROUND FOR FURNITURE RETAILER
* Half year profit of $6.97m, 43 pct up from $4.9m profit in 2013/14
* Revenue of $244m, up 8.7 pct from $225m
* Interim dividend of six cents plus four cents special dividend, up from three cents.
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