Shares in Noni B Limited (ASX:NBL) surged 35 per cent this morning after the women’s clothing retailer forecast its first half net profit to grow by up to 60 per cent.
The company expects to deliver a net profit of between $2.1 million and $2.4 million in the first half of fiscal 2012, compared with $1.5 million recorded in the first half of fiscal 2011.
Noni B says sales have been in line with the previous year but earnings have increased due to initiatives to improve productivity, reduce expenses and improve gross profit margins.
The full fiscal 2012 half year result will be released on February 15, 2012.
Shares in Noni B had surged 35 per cent this morning to $0.54.
In the 2011 financial year Noni B reported a net profit of $231,000.
