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Operating profit increased by 41% to €1.1m, while cash flow generated from operations was €606m compared with €598m in 2010.
Earnings per share rose 11% to €1.266 from €1.144 a year ago.
Johann Rupert, executive chairperson and CEO, said the company was pleased to report a solid performance in the first half of this year.
"Our Maisons were able to benefit from a favourable trading environment to enhance their positions in jewellery, watchmaking and accessories," he said.
The 2011 dividend, at 0.45 Swiss francs per share, was paid to shareholders net of withholding tax in September.
The rate of increase in net profit was lower than the rise in operating profit, primarily due to a one-off gain in the comparable period.
The group's net cash position is €2.6bn.
Gross profit rose by 26%, although the gross margin percentage was 160 basis points lower at 63.2% of sales.
Several factors caused the drop in the gross margin percentage, including adverse currency movements affecting sales, the strengthening of the Swiss franc and, as expected, the impact of Net-a-Porter, Richemont said.
It added that the sales trend of the first six months of the year had continued through to the end of October, with sales for the month 28% above those of October 2010 at actual exchange rates. At constant exchange rates they were 26% higher, with good momentum in both the retail and wholesale sales channels.
Europe accounted for 36% of overall sales and solid double-digit organic growth was registered across the region, including Russia and the Middle East, the group said.
While growth in the Asia-Pacific region was broad-based, it was primarily driven by mainland China, now Richemont's third-largest market after Hong Kong and the US.
The Americas region reported double-digit growth and represented 14% of group sales - the performance was specifically driven by significant high jewellery sales.
Sales in Japan increased, despite the dramatic events of last March, with Van Cleef and Arpels and the Specialist Watchmakers performing particularly well.
Overall retail sales, comprising directly operated boutiques and Net-a-Porter, increased by 37% - well above the growth in wholesale sales; Richemont now generates 49% of its sales through its own retail network.
The Jewellery Maisons' sales grew by 34%. The Specialist Watchmakers' sales increased by 30%.
Montblanc sales went up by 10%, reflecting good demand for its range of watches and accessories, in particular in the Asia-Pacific region.
Richemont's Fashion & Accessories Maisons saw double-digit sales growth and generated improved profits of €23m from €7m in 2010.
Sales growth at Net-a-Porter were once again well above the group's average, it said.
But Net-a-Porter incurred losses during the period amounting to €22m, resulting from the amortisation of intangibles and the costs associated with the continued expansion of its platforms in the UK and the USA.
During the period, the group acquired about 8 million "A" shares to hedge executive stock options. The cost of these purchases was partly offset by proceeds from the exercise of stock options by executives and other activities linked to the hedging programme, leading to a net outflow of €205m.
Looking ahead, Rupert said the group faced both the impact of global economic problems on the luxury goods industry in general, and the demanding comparative figures against which group sales will be measured.
Notwithstanding these challenges and based on its performance for the year to date, operating profit for the full year was expected to be significantly higher than last year.
"The creativity of our Maisons and the responsiveness of our colleagues, our confidence in our business model and the strength of our balance sheet will enable us to continue to invest in our businesses for the long term, despite the very worrying world economic environment," he said.
