Noni B has announced a net profit after tax of $11.8 million for H1 FY18, compared with $2.5 million for the previous corresponding period.
In a continuing turnaround, it also posted like-for-like sales growth of 3%.
Between 2013 and 2015, Noni B racked up losses of $16 million and its auditor cast doubt on its ability to continue as a going concern.
Despite multiple retailers revealing dips in profit for the same period, Noni B posted a 35% growth in revenue this half, clocking total revenue at $193.2 million.
During the half, the group expanded its store network by a net 28 stores. At 31 December Noni B operated 642 stores across its portfolio of brands.
Investment in the company's online business resulted in 68% growth in online sales bringing it to 4.9% of total group sales.
Noni B CEO Scott Evans said he was pleased with strong sales during the key Christmas period despite a highly competitive market.
“Operational improvements have been made throughout the business and, as anticipated at the annual general meeting in November, we are on track to deliver annualised savings of $8 million in cost of doing business this financial year.
"In addition, we are continuing to achieve efficiencies in sourcing and we expect to see further improvements.
“We expanded our store footprint and we see opportunity for further growth. Accordingly, we will continue to invest in our store network, subject to achieving appropriate commercial terms for new stores.”
Noni B chairman Richard Facioni highlighted that the strong results also reflected the success of the integration of the Pretty Girl brand.
"We are pleased with this result, which reflects the successful execution of the integration and growth strategies outlined at the time we acquired Pretty Girl.
“Following the Pretty Girl acquisition, 2017 was a year of transformation. In contrast, 2018 is a year of consolidation and continual improvement of the Noni B business model.
“That investment is paying off, as evidenced by our continued like-for-like sales growth and growth in online sales as a proportion of total sales.
"We are confident that our extensive physical store network combined with our investment in online are a strength of the group and will continue to underpin growth.”