Fashion retailer Noni B gross profit rises to $115.7mn

05 Jul '06

2 min read

Women's clothing retailer Noni B Limited announced that it expects to report a profit after tax of between $7.9 million and $8.3 million for FY 2006, compared with $6.6 million (adjusted for AIFRS) for the previous year. Unaudited sales revenue for the year was $115.7 million, an increase of 7.8 percent over 2004/5 ($107.3 million).

Mr. Alan Kindl, managing director of Noni B Aaid: 'Disciplined inventory management and effective control over discounting again enabled us to increase margins. Competitors' early discounting of winter season merchandise weakened sales in June, but we are continuing to experience growing demand for the Noni B and Liz Jordan ranges.

With 13 new stores opened since June 2005, and eight further openings scheduled before Christmas, we expect ongoing growth for the company.'

Noni B has no debt and strong cash flow. The company's profit after tax for the first half of 2005/6 increased by 24.5 percent to $5.5 million; audited results for the full year will be announced on 16 August.

Noni B Limited, founded in 1977 is one of Australia's leading fashion retailers with 190 stores nationally. Listed on the Australian Stock Exchange in May 2000, the company has two brands: Noni B which attracts the quality-conscious woman who prefers classic style; and Liz Jordan which has a designer look for the fashionable woman.

Noni B Limited

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