Womenswear brand Noni B has conceded it expects its net profit to fall by almost a third for the first half of 2013.
The retailer, which currently operates 219 stores across the country, revealed it expects to report an after-tax profit in the range of between $1.7 million and $1.9 million for the first half of the 2013 fiscal year, from $2.4 million the year before.
Sales were in line with the previous year, despite one less week's trading.
Commenting on the results, joint managing director David Kindl said the company would continue to invest in its people to push through.
“We plan to maintain staffing levels and investment in training so we can continue to improve the personalised service we offer. We believe retailers who are committed to the development of their people will be best placed for long-term growth, both in stores and online,” he said.
Kindl added that four new stores were opened in December 2012, which he expects will contribute to the company's second half results.
The results also incorporate Noni B's sister brand, Liz Jordan.