Shares in Noni B Limited (ASX:NBL) jumped more than 10 per cent yesterday after the women’s clothing retailer posted a net profit at the top of its guidance range for the first half of the 2012 financial year.
For the 27 weeks ended on January 1 Noni B generated a net profit of $2.4 million, a 58 per cent improvement from the year before.
The company has attributed the result higher margins and tighter control of expenses following wide-ranging initiatives to improve performance.
Looking ahead Noni B expects consumer confidence to remain challenging but is still expecting an improved performance in its second half earnings.
Shares in Noni B jumped 10.61 per cent yesterday, closing at $0.73.
Noni B has declared a fully franked interim dividend of 2.5 cents per share.
