Things are looking up for fashion retailer Noni B that has set profit expectations higher than it’s the first half of the 2011 financial year.
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.
David Kindl, joint managing director, said: ‘This improved performance reflects our considered strategy and our focus on managing all aspects of the business as efficiently as possible. 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 continued to invest in our sales team and increased training to improve service for our customers, including offering personal styling sessions.
‘Our new Noni B and Liz Jordan ranges, available both through our stores and our webshop, have been well received by our loyal customers who value and appreciate their easy care and stylish fashion.’
According to the company, sales were in line with the previous year while earnings increased following initiatives to improve productivity, reduce expenses and improve gross profit margins.
Full interim results for the 2011/2012 financial year will be released on 15 February 2012.