Noni B’s director steps down after Packer’s divestment
Bradley Kady has resigned as a non-executive director of women’s fashion chain, Noni B, following last weeks sell off of shares by James Packer’s Consolidated Press Holdings (CPH).
Kady, who joined the company in September last year following the company’s acquisition of the Pretty Girl Group from CPH, also assisted the fashion chain’s board with the integration of the Pretty Girl business into the Noni B Group.
The retailer recently posted positive growth in revenue for the half year ending December 25, 2016, which already includes a four-month contribution from the recently acquired Pretty Girl business.
The retailer reported group total revenue increase to $143 million for the half and positive growth in like-for-like sales, notwithstanding the exclusion of Boxing Day from the half.
The group posted $14.3 million EBITDA for the half, and statutory after-tax profit of $2.5 million reflecting the after-tax impact of one-off transaction and restructuring costs.