Noni B boosts dividend despite profit cut

Noni B is taking a halving of its full-year net profit in its stride as the clothes retailer group’s revenue more than doubled after it acquired five fashion brands.

Noni B Group said its net profit for the 12 months to June 30 totalled $8.2 million, down from $17.3 million while revenue for the period grew to $881.9 million from $372.4 million.

The company, which bought Rivers, Millers, Katies, Crossroads and Autograph from Specialty Fashion Group in July 2018, boosted its fully franked final dividend to 5.5 cents from 4.0 cents.

AAP

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