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.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.