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Noni B bucks trend with boost in half year

Noni BNoni B Group’s half-year net profit has skyrocketed on the back of a sales bump driven by its acquisition of Pretty Girl.

Statutory net profit after tax (NPAT) was up 379.5 per cent to $11.8 million for the six months ended 31 December.

Underlying earnings before interest, tax, depreciation and amortisation was up 54.5 per cent to $22.1 million, in line with a trading update in January.

Top-line sales were up 35 per cent to $193 million, benefitting from four months of trading from Pretty Girl, which was acquired in September 2016.

Like-for-like sales were three per cent, reflecting trading from the broader network.

“We are pleased with this result, which reflects the successful execution of the integration and growth strategy outlined at the time we acquired Pretty Girl,” chairman Richard Facioni said.

“Following the Pretty Girl acquisition, 2017 was a year of transformation. In contrast, 2018 is a year of consolidation and continual improvement of the Noni B business model.”

Managing director and CEO Scott Evans said growth over Christmas was strong, despite competition in the market, with growth in market share achieved.

Year-to-date sales within the Noni B network remained consistent with the first-half at three per cent.

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