Noni B expects to increase profits by up to 60 per cent for the first half of the financial year, despite tough trading conditions.
The womenswear retailer, which reported an after-tax profit of $1.5 million for the first half of fiscal 2011, predicted this will grow to $2.1 million to $2.4 million in fiscal 2012.
Noni B joint managing director David Kindl said that while sales were in line with the previous year, earnings increased following initiatives to improve productivity, reduce expenses and improve profit margins.
“The improved performance reflects our considered strategy and our focus on managing all aspects of the business as efficiently as possible,” he said.
“We have reviewed all expenses and streamlined operations so we have a leaner structure where executives are closer to the shop floor and able to provide better support to the sales team. We have also continued to invest in our sales team and increased training to improve service for our customers, including offering personal styling sessions.”
Full interim results for the group for the 2011/2012 financial year will be released on February 15.