The retailer said it made $282.2m in statutory net profit after tax in the 12 months to July 30, up 4.9 per cent from a year ago and up 167 per cent from fiscal 2019, before COVID-19.
The group had total sales of $1.498 billion, up 5.2 per cent from 2020/21. Online sales grew 14.3 per cent to $340.1m, up fivefold from five years ago.
"Our team has delivered an impressive full year result for our shareholders, especially in the context of significant operational challenges that included government-mandated lockdowns, global supply chain complexities and Omicron disruption," Premier chairman Solomon Lew said.
The company said trading was strong in the first half of fiscal 2023, with sales for the first seven weeks up 46.7 per cent compared to the same period a year ago, although at the time there were significant store closures due to COVID-19 lockdowns.
But compared to the same pre-COVID-19 period in 2019, sales are up 21.5 per cent.
"The Premier Board remains optimistic about the group's ability to deliver, however also recognises the business is operating in highly uncertain times," Premier said.
It announced a fully-franked dividend of 54 cents per share, taking its full-year ordinary dividends to $1 per share, up from 80 cents a year ago.
Premier will also pay a special fully franked dividend of 25 cents per share and began the share buyback program on Thursday.
The company had $471m in cash and cash equivalents as of July 30, with the dividends announced on Thursday to cost $125m.
Premier said its "strong and robust" balance sheet leaves it well positioned for additional returns to shareholders or possible acquisitions.
At 1.57pm AEST, Premier Investments shares were up 13 per cent to $23.365, their best level since May but still down 22.9 per cent for the year.
The company operates 1100 brick-and-mortar stores in six countries.
Premier's other brands are apparel stores Dotti, Jay Jays, Jacqui E and Portmans and it has investments in Myer and Breville.
Premier said Peter Alexander would focus on large format stores to better showcase the wider product offering it developed in recent years.
