N Brown boosted by full year profit jump
N Brown, the owner of JD Williams, Simply Be and Jacamo, has posted an increase in annual profit and adjusted EBITDA despite a drop in revenue.
In the year to 26 February, pre-tax profit climbed by 108.7% to £19.2 million while adjusted EBITDA rose by 11.9% to £95 million.
Meanwhile, group revenue edged down 1.8% to £715.7 million following a 0.6% reduction in product revenue and a 4% decline in financial services income.
The year end saw the company’s first increase in active customers in four years as a result of an improved product offering and focused marketing, which included Davina McCall and Amanda Holden acting as brand ambassadors.
Steve Johnson, N Brown chief executive, said: “I am pleased with our continued progress in transforming N Brown into a more focused digital business, with a distinct and improving offer across our strategic brands. Our strategic brands returned to growth in the year with growing customer numbers.”
N Brown said it made solid progress towards the roll out of a new front-end platform for its websites in the year. In addition, it is increasing the proportion of sustainably sourced own brand products within its portfolio and launched the Anisa sustainable clothing range post year-end.
Johnson continued: “As we move forward, we are evolving our priorities to concentrate our growth focus on Simply Be, JD Williams and Jacamo, where we see the strongest market potential. We’re executing on our investment plans to unlock these opportunities including through new websites which will be rolled out progressively over the coming months.”
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