Kirkcaldie & Stains expects its full year profit to be similar to last year's, despite seeing profits fall 42% in the first half.
The upmarket Wellington retailer made $482,000 in the six months to the end of February - down from $829,000 in the same period a year ago.
Kikrks says markdowns were significantly higher than usual, but its end of season sale helped to reduce stock levels, which puts it in good stead for the second half of the year.
The company says rental income from its Harbour City Centre has continued to increase and it's now negotiating a rent review with its largest office tenant.
The company says it's also been able to take advantage of lower interest rates, which has lowered its interest bill.
An interim divident of 3 cents per share will be paid next month.
