Noni B Group, helped by the acquisition of James Packer's Pretty Girl Group in 2016, has posted its fourth consecutive year of like-for-like sales growth, increasing its group total revenue by 17.6%.
All four Noni B brands- Noni B, Rockmans, W. Lane and Beme- showed positive comparable store growth, contributing to the 4.5% increase in like-for-like sales.
Noni B managing director Scott Evans said the $30 million acquisition of Specialty Fashion Group brands Millers, Katies, Rivers, Crossroads and Autograph in July would only further the group's progress.
“With the acquisition of the Specialty Fashion Group assets, Noni B Group has now become one of the pre-eminent women’s apparel retailers in Australia, retaining our solid, focused market position.”
The move added another 785 stores to Noni B's portfolio and almost tripled its annual revenue.
Noni B saw an increase of 62.7% to its EBITDA this year, which raised it to $37.2 million.
Noni B Group Chairman Richard Facioni said, “The 2018 financial year has been another successful year for Noni B Group, achieving strong financial results and pleasing like-for-like sales growth in an increasingly competitive market.”