Women’s clothing retailer Noni B Ltd
(ASX:NBL) has provided an update on how it’s trading, saying it expects growth in earnings for fiscal 2010.
The retail fashion group says it expects after-tax profit for financial year 2010 to be in the range of $3.4 million and $3.8 million, compared to $2.3 million earned in fiscal 2009.
Joint managing director David Kindl says the profit improvement reflects an increase in earnings before interest and tax margin through avoiding the more aggressive discounting that has taken place as well as tight control of costs.
Mr Kindl says with the Noni B’s well recognised brand and loyal customer base, the company is well positioned to take advantage of any improvement in customer sentiment in the 40 plus women’s fashion market.
Noni B’s results for the 2010 financial year are to be announced on August 18, 2010.
Noni B paid shareholders a total of 2 cents a share in dividends in fiscal 2009.
