The trading environment continues to remain difficult with Noni B reporting a loss in net profit for the first half.
The women’s fashion retailer reported a 19 per cent drop in net profit after tax to $1.9 million for the first half of the financial year 2013 to $2.4 million compared to the same period last year. Similarly EBITDA fell 18.3 per cent from $5 million to $4.1 million.
Despite this, the company was able to raise revenue by 0.5 per cent to $64.3 million compared with $64.1 million for the first half of financial year 2012. This was driven by the 50,000 new members who joined its loyalty club.
David Kindl, joint managing director, said the company will focus on maintaining staff level and continue to invest in training to deliver superior customer service.
“The women’s fashion market remains challenging, and we continue to manage the business as efficiently as possible, without compromising the service and quality that will provide long term growth. We will maintain a conservative approach to inventory levels and the company’s strong balance sheet and cash position,” he said.
“As consumer demand recovers, we are confident that our investment in improving customer service, the superior style and fit of our products, the convenience of our national store network and web store and the strong Noni B and Liz Jordan labels will enable us to return to sales and earnings growth.”