Noni B rises

Womenswear retailer Noni B has posted a 10-fold increase in full year profits to $2.7 million, up from $231,000 made in the same period last year.

The result came in at the top end of guidance issued last month.

Sales revenue was $119.7 million, an increase of two per cent from $117.3 million over the previous year.

Cash from operations remained strong at $7 million - up from $5.2 million - while the company's cash balance was $9.3 million at July 2012, with no bank borrowings.

Noni B joint managing director David Kindl said the retailer remained cautious about the future, with consumer confidence a challenge and no changes expected in the short term.

"We remain highly selective in choosing locations for new stores and in negotiating lease terms, and we opened six new stores and closed six that were under-performing."

Noni B currently has 215 stores nationwide.

comments powered by Disqus

Follow Us





latest comments


events »