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Noni B reports strongest profits in six years

noni bRetail fashion group, Noni B, has reported its strongest half year performance in six years.

The company reported net profit of $2.776 million for the six months to December 27 compared to a loss of $2.356 million in the previous corresponding period.

The women’s fashion chain reported revenue of $59.146 million, which is a 3.7 per cent increase from the previous year, following two years of decline.

“The second half has started in line with expectations, but the company’s full year result will be influenced by customer demand, especially leading up to Mother’s Day, and movements in the AUD/USD exchange rate,” the company said in a statement.

The statement further mentioned that “always meeting customers’ needs is the key to the next phase” of their success and say they have already taken steps to do that by improving their product range.

The fashion group’s gross margin has benefited from improvements in their supply chain and reduced discounting, they said.

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