Encouraging results for N Brown Group plc
Revenue and profits up in the interim results for the six months ended 28th August
Total revenue is up 3.2% to £349.7 million. Profit before tax and fair value adjustment to financial instruments is £44.1m, up 5.5%. Operating profit up 4.5% to £46.2 million. Ecommerce performed well with sales up 17% to £150 million.
Total Sales for the six weeks ended 9th October are up 5.1%.
Lord Alliance of Manchester, CBE, Chairman, said, "We have had a good first half of the year, despite a difficult trading environment, and we are pleased to note that the positive trends have continued into the first six weeks of the second half. While there continues to be uncertainty surrounding the outlook for the sector, we are encouraged by the strong demand from our younger titles, the international performance of Simply Be Germany as well as the launch into the USA. The Board remains confident that we will deliver a good performance for the full year."
Alan White, Chief Executive, added, "This is another good performance, benefiting from the strong growth in online sales, the expansion of Jacamo and Marisota, and the acquisition of Figleaves and High and Mighty. We have also seen bad debts reduce significantly. We have grown our share of the market, emphasising our strong position as the leading retailer in plus sizes in the UK.
We are also particularly excited by the launch of our Simply Be brand in the US, as the first orders are starting to come through and we will look to drive sales forward in the second half of the year. We have a number of growth opportunities ahead and we are confident we will continue to make good progress for the full year."
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