N Brown posts marginal revenue rise in the first half

For the first half to August 27, 2016, N Brown Group reported total group revenue rise of 1 percent to 429.4 million pounds (527.7 million dollars). Product revenue increased 0.6 percent and financial services revenue went up 1.9 percent. Adjusted profit before tax stood at 31.6million pounds (38.8 million dollars), which the company said was ahead of consensus expectations.

Commenting on the results, Angela Spindler, Chief Executive, 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.”

Statutory profit before tax was 21.1million pounds (25.9 million dollars). Adjusted earnings per share from continuing operations were 8.95p and statutory earnings per share were 5.98p. Online revenues increased 7.5 percent and online revenue of power brands increased 10 percent. JD Williams product revenue, which includes the Fifty Plus brand, increased 0.3 percent to 75.8 million pounds (93.1 million dollars).

JD Williams brand itself increased 11 percent and Simply Be product revenue went up 6.2 percent to 53.3 million pounds (65.4 million dollars). Jacamo product revenue increased 3.3 percent to 31.4 million pounds (38.5 million dollars). USA revenue were up 24.5 percent or 14.7 percent on constant currency) and operating loss was 0.5million pounds (0.6 million dollars).

Picture:JD Williams