Noni B Limited declares after-tax profit $8.2mn for FY2006
16 Aug '06
2 min read
Noni B Limited, the retail fashion group announced an after-tax profit of $8.2 million for FY2006, up 24.1 per cent from FY2005. This was Noni B's fifth successive year of earnings growth, with a 35.5 per cent average increase in after-tax profit over this period.
The company's market share continued to grow, with sales rising by 7.8 per cent to $115.7 million. The EBITDA margin increased to 12.6 per cent from 11.1 per cent. The company has strong cash flow and no debt.
Increased final dividend The directors have declared an increased final dividend of 9.0 cents per share fully franked (2005: 7.0 cents), payable on 20 October 2006 to shareholders on the register at 6 October. This will bring ordinary dividends for the year to 17.0 cents per share fully franked (2005: 13.0 cents).
Operational review 'We are delighted to report another record result,' said Mr Alan Kindl, managing director. 'We have increased sales in a challenging market; and the higher margin – for the fifth consecutive year – reflects our focus on continuous improvement across all areas of the business.
'Our detailed understanding of our customers' expectations, combined with effective inventory management, enabled us to reduce average stock by 3.4 per cent compared with 2005. At the same time, we maintained strict control over discounting.
'Membership of our customer loyalty program grew by a further 15 per cent, confirming increasing customer recognition of the competitive strengths of the Noni B and Liz Jordan brands.
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