Source - SMW
N Brown has booked a FY statutory pretax profit of £21.1m, from £23.8m. Proposed interim dividend was flat at 5.67p a share.

Total group revenue was up 1% to £429.4m, from £425.3m a year earlier. The results included a £9m exceptional cost linked to financial services customer redress, versus £5m-£8m previously.

CEO Angela Spindler said:

"I am pleased with the progress we made during the half, as we continue to change to a digital business model, with an emphasis on agility and innovation. 

"Spring Summer was challenging for the entire retail sector, and we were not immune to this, but we demonstrated our flexibility as we improved revenue performance through the season whilst controlling our costs well.

"Our Power Brands continue to outperform the wider business, and I am particularly encouraged by the 11% revenue growth of the JD Williams brand. Our digital KPIs remain very strong, with 68% online penetration and 7.5% growth in online revenues.

"In recent weeks we have reached two significant milestones: our full FCA authorisation and the launch of our new USA website. The learnings from the USA launch have led us to extend the remaining rollout timetable for our Fit 4 the Future systems project. 

"We remain very positive about the capabilities the programme will bring. We also have new initiatives underway which will further improve our customer reach and add momentum to our transformation.

"The Autumn Winter season has started in line with our plans. Our improving agility is enabling us to trade the business in a volatile environment. At this stage we are comfortable with current market expectations for the full year."






Related Charts

Brown (N) Group (BWNG)

-1.90p (-0.91%)
delayed 18:15PM