Womenswear chain Noni B has sounded the alarm ahead of its 2013 full year results.
The retailer, which currently operates 221 stores across the country, has revealed it is bracing for a significant drop in its after-tax trading profit for the year to June 30, 2013.
According to the group, after-tax trading profit for this financial year is expected to be between $1.0 million and $1.5 million – compared to $2.7 million in 2012.
Commenting on the slip, Noni B said the figures reflect “increased business costs, principally sales staff to maintain customer service levels, at a time of static demand”.
“The company’s earnings in the second half are always significantly lower than the first half and final results for the year will depend on sales during the fourth quarter, including the important Mother’s Day trading period.”
Noni B sounded a similar warning earlier his year in January, when it revealed its net profit was expected to fall by almost a third for the first half of 2013.
In February, as reported on ragtrader.com.au, Noni B confirmed an after-tax profit of $1.9 million for the first half of the 2013 financial year.
The final figures sat slightly higher than expected, but still saw a significant slide in profit, compared to the $2.4 million the company reported for the previous corresponding period.
Noni B Limited was founded in 1977 and also incorporates sister brand Liz Jordan.