SYDNEY: Noni B's aversion to aggressive discounting is set to boost its after tax profit by more than $1 million, the retailer has revealed.
The national womenswear retailer today announced that its after tax profit for the 2009/10 financial year is expected to be in the range of $3.4 to $3.8 million.
This compares to an after tax profit of $2.3 million in the 2008/09 financial year.
Noni B joint managing director David Kindl disclosed the reasons for the expected profit increase.
“The profit improvement reflects an increase in EBIT margin through avoiding the more aggressive discounting that has taken place as well as tight control of costs,” Kindl said.
“With our well recognised brand and loyal customer base, the company is well positioned to take advantage of any improvement in customer sentiment in the 40 plus women's fashion market.”
Noni B operates the Noni B and Liz Jordan brands and currently has 216 stores across Australia.
The company will post its audited results for the 2009/10 financial year on August 18, 2010.