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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.