Womenswear retailer Noni B has already reaped the benefits of a $75 million acquisition.
Noni B MD Scott Evans said Pretty Girl, formerly owned by James Packer, has showed signs of progress four months after acquisition.
“It’s still early days in terms of our ability to significantly improve the Pretty Girl brands, but we are pleased with the early indications,” he said.
“In this transition year, we managed to achieve a small like-for-like sales improvement and much improved second quarter in the business, after managing the inventory issues in a number of key categories that we identified at the time of acquisition."
Noni B Group posted a 142% increase in group total revenue to $143 million for first half of fiscal 2017.
Statutory after tax profit was $2.5 million for the period, reflecting the after-tax impact of one-off transaction and restructuring costs.
This result compares with an after tax profit of $2.8m for first half 2016, being the standalone operations of Noni B.