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Pre-Christmas sales & member loyalty program pepper Noni B's record profits

13
Feb '06
Retail fashion group, Noni B Limited announced a record after-tax profit of $5.522 million for the half year to 1 January 2006 (27 weeks), an increase of 24.4 per cent over the previous corresponding period, which included 26 weeks' trading.

The company's market share continued to grow, with sales rising by 13.7 per cent to $60.683 million.

Earnings per share increased by 24.5 per cent to 17.3 cents and the EBITDA margin increased to 15.1 per cent from 13.8 per cent.

The company has no debt and strong cash flow.

Interim dividend

The directors have declared an interim dividend of 8.0 cents per share fully franked (2005: 6.0 cents), payable on 28 April 2006 to shareholders on the register at 14 April 2006.

Operational Review

'They are delighted Noni B has achieved record sales and earnings in a challenging market,' said Mr Alan Kindl, managing director.

'As reported in December, pre-Christmas sales momentum was stronger than expected, and this excellent result reflects their detailed understanding of their customers' expectations, growing awareness of their Noni B and Liz Jordan brands and the appeal of their summer ranges.

'Membership of their customer loyalty program continued to grow, exceeding their expectations.

Effective inventory management contributed to another increase in average margin, and stock levels at the end of the period were 12.5 per cent lower than a year earlier.


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