Noni B recorded an after tax profit of $1.9 million, a decline of 2.8 per cent, for the six months to 31 December 2013. Also down is consumer sentiment and satisfaction, while sales are up for ALDI and The Iconic and the ASIC is getting angrier.
Noni B has reported an underlying after tax profit of $1.5 million for FY2013, compared with $2.7 million in the previous year.
Fashion retailer Noni B is another to add to the list of victims suffering through the difficult retail times.
Leo Tutt has been appointed as an independent non-executive director and chair of the audit and risk management committee of Noni B.
The trading environment continues to remain difficult with Noni B reporting a loss in net profit for the first half.
Noni B has warned profit for the first half of the 2013 financial year is expected to take a tumble.
Noni B chairman Lynn Wood said that it was a difficult year last year and this year is expected to be no different.
Running with the belief that good customer service and products sell over discounting has helped Noni B achieve a 2 per cent increase in sales revenue of $119.7 million for the full-year of 2012.
The retail fashion group expects after tax profit to range from $2.5 to $2.6 million – over $2 million more than the company's reported after-tax profit last year.
Higher margins together with controlled expenses have helped boost first half year profits for retail fashion group Noni B.
Noni B expects after tax profit to be in the range of $2.1 to $2.4 million for the first half of FY2012 compared to $1.5 million for the same period last year.
The company reported that unaudited sales revenue for the financial year for 2010-2011 was $117.3 million.
Due to low consumer confidence and the unseasonably cool weather, retail fashion group Noni B has reforecast its profits for the first half of 2011.