Fashion retailer Noni B says its half year earnings have increased by more than 50 per cent after a strong sales performance in the Christmas period.
The owner of the Rockmans, Noni B and beme brands said like-for-like sales improved three per cent in the six months to December 31, taking total sales to about $190 million, up from $143 million a year ago.
The company expects its half year earnings before interest, tax, depreciation and amortisation (EBITDA) to hit $22 million, up from an underlying EBITDA of $14.3 million in the prior corresponding period.
Noni B says sales were strong in the lead up to and during Christmas, which has put the group in a good position for the second half of the financial year, which is typically not as strong as its first half.
Online sales continued to grow and represented nearly five per cent of total sales during the half, while the group added 28 stores to its network, which now stands at 642.
Noni B shares gained 8.5 cents, or 4.5 per cent, to $1.985.
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