Noni B Limited ( NBL ) released a trading update for the 2018 Financial Year, ended 1 July 2018. The Group recorded that like-for-like sales for the period grew by 4.5 per cent and total sales grew to approximately $364 million. It was observed that the Group’s store network increased from 614 stores at the start of the period to 641 stores and online sales continued to increase which represented 5.8 per cent of sales.
The Group expects that earnings before interest, tax, depreciation and amortisation (EBITDA) for FY2018 will be approx. $37 million, consistent with consensus expectations and which represents an increase of more than 70 per cent over the prior year’s underlying EBITDA $21.7 million (full year underlying EBITDA for FY2017, including the 53rd week, was $22.9 million). It is expected that FY2019 will be a year of transformation for the Noni B Group, with the acquisition of the Millers, Katies, Crossroads, Autograph and Rivers brands completing on July 2nd. The Group will release its FY2018 financial results in late August. The stock price climbed up about 2.79% and was trading at $3.125 that is near to 52-week high price (as on 12 July 2018; 03:30 PM AEST).
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