Profit of women's apparel retailer drops

The Kings Park-based apparel retailer, Noni B, said its full-year net profit would drop from $8.3 million last year to between $6 million and $6.7 million for the year ending June 30, 2008. Joint MD, David Kindl said NSW, which accounted for 40 per cent of the group’s 201 stores, had been struggling as higher interest rates, rising food and fuel prices and the credit squeeze hit into its revenue. He said the performance of its flagship Noni B and Liz Jordan brands was in line with last year’s performance, its newer La Voca store chain posted a $800,000 half-year loss. The group’s full-year results will be released on August 20.