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Noni B shares jump 23% after profit forecast

Noni B shares jump 23% after profit forecast

Shares in apparel manufacturer Noni B jumped 22.7% to $1.35 today, after the company predicted a healthy increase in post-tax profit.

The company said it expects to make between $3.4 million and 3.8 million for 1H10, compared to profit of $2.5 million in 1H09. Sales have also improved marginally over the period.

“This improved earnings performance is the result of our focusing on extracting greater returns from existing stores,” Noni B joint managing director David Kindl said.

Noni B has also become debt free this period, and expects to pay out an interim dividend of 50-75% of post-tax profit in April, Kindl said.

But he added that the company’s exact results will depend on the success of its pre-Christmas sales.

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