Noni B Group celebrates bumper year so far

Company News

by Rachael Jones

Fashion retailer the Noni B Group (ASX:NBL) has issued a bumper trading update for the 2018 financial year.

The womenswear group noted like-for-like sales as a key highlight, with growth of 4.5 per cent for the year ended July 1, 2018.

Total sales grew to approximately $364 million, with the store count rising from 614 to 641.

The result marks a dramatic turnaround for the group, which came close to collapse four years ago after they racked up losses of $16 million between 2013 and 2015, before its acquisition by Alceon.

The Group expects earnings before interest, tax, depreciation and amortisation (EBITDA) for the year to be around $37 million.

Shares in the Noni B Group (ASX:NBL) up 0.66 per cent to $3.06.