Lovisa lifts first half profit 66%

Newly-listed jewellery retailer Lovisa expects to reach its full year profit targets after lifting its first half result 66 per cent

Jewellery retailer Lovisa has reaffirmed its full year earnings guidance after lifting first half profit by two thirds.

Lovisa, which listed on the ASX in December, made a net profit of $12.3 million for the six months to December 31 which, it said, was 66 per cent higher than it recorded a year ago.

Revenue was up 33 per cent on its 2014 first half and the company reaffirmed its prospectus forecast for a full year net profit of $16.4 million.