Its distributable income per share - one of the primary measure of profits in real estate investment trusts (REITs) - rose to 85.0 South African cents per share in the six months ended Sept. 30, from 80.8 cents a year earlier.
Profit rose despite a challenging macroeconomic environment, the company which has operations in South Africa and Spain, said in a statement.
Vukile, which owns shopping malls in rural, townships and urban areas, said footfall at its shopping centres increased to 102% compared with the previous year.
But the owner of East Rand Mall in Gauteng province and KwaMashu Shopping Centre in the KwaZulu-Natal province saw pressure on some consumer items.
"We have noted pressure on certain discretionary retail categories, as well as women and children's wear, which is indicative of the prevailing pressure on the consumer," Vukile said.
South Africa consumers are facing high levels of price rise. Headline consumer inflation of 5.9% year-on-year in October neared the upper limit of the South African Reserve Bank's target range of 3% to 6%, burdening consumers.
Vukile on Wednesday declared an interim dividend of 52.1 cents per share, up 10% on the prior period.
(Reporting by Tannur Anders; Editing by Jacqueline Wong, Bhargav Acharya and Mrigank Dhaniwala)
