Women’s fashion retailer Noni B says tough retail conditions have continued into the current financial year.

“Last year’s challenging business conditions are continuing in the current year,” Noni B chairman Lynn Wood told the company’s annual general meeting on Thursday.

“There is still substantial discounting in our market and we are having to fight for every dollar.

“While we wait for consumer sentiment to improve, we remain focused on efficient management of everything we can control.

Ms Wood said while Noni B’s summer fashion range had been received, the retailer’s first half earnings would depend on the critical pre-Christmas period.

Noni B made a $2.7 million net profit in the 2011/12 financial year, a significant increase from the previous year’s $231,000 profit.

The retailer attributed the result to its careful management of promotions, marketing, expenses and inventory, in the face of weak consumer sentiment.

“We continue to review and refine operations, improving systems, fine tuning the store network, managing margins and costs, and re-allocating expenditure to customer facing activities,” Ms Wood said on Thursday.