N Brown Group posts improved profits despite drop in revenue
N Brown Group, the parent company of Simply Be, JD Williams and Jacamo, has posted a drop in full year revenue after facing “challenging” market conditions.
Revenue fell by 9.8% to £600.9 million in the year to 2 March which the group said was also due to its its focus on driving profitable sales.
While adjusted pre-tax profit improved by £8.4 million to £13.3 million, adjusted EBITDA fell by 12.5% to £47.6 million.
During the year, JD Williams launched a new premium line called Anthology while Simply Be began offering select lines in Sainsbury’s stores. In addition, Jacamo improved its own brand offer by expanding across the key categories of smart casual, denim, and footwear.
Steve Johnson, N Brown chief executive, said: “We have delivered against our strategic and financial objectives this year.
“We have kept to our transformation plans, despite the macro-economic backdrop, whilst building resilience through our strong balance sheet, and achieving adjusted EBITDA above market expectations.
“Looking ahead, our strong liquidity position allows for continued investment in our strategy, positioning the business for sustainable growth whilst always improving the customer experience.”
