HALF YEAR RESULTS ANNOUNCEMENT
26 WEEKS ENDED 1 SEPTEMBER 2012
Younger brands and Internet channel drive Sales Growth
N Brown Group plc (LSE:BWNG), the multichannel retailer, today announces its Half Year results for the 26 weeks ended 1 September 2012.
Highlights:
|
Total revenue |
379.3m |
+4.3% |
|
Operating Profit |
45.7m |
-2.8% |
|
Profit before tax and fair value adjustments |
42.0m |
-4.5% |
|
E-commerce sales |
196m |
+12% |
|
Adjusted earnings per share |
12.48p |
+3.1% |
|
Interim dividend |
5.45p |
+3.0% |
|
Sales from newly recruited customers |
+20% |
|
|
Sales for the six weeks ended 13 October |
+10.1% |
|
Andrew Higginson, Chairman, said:
"In my first report since taking over as Chairman I am pleased to be reporting like for like sales growth of 3.7% and an improving sales trend within the business. The strategy to focus on the development of our core brands and our online trading capability is delivering positive results, as evidenced by our strong start to the second half."
Alan White, Chief Executive, added:
"I am delighted that the revenue and gross margin trends have been on an upward trajectory throughout 2012. We have seen double digit growth in the revenue from our younger brands, such as Jacamo and Simply Be, and in our menswear and home and leisure product ranges. The 10.1% increase in sales at the start of the second half is also very encouraging and all our major brands and product areas have contributed to this growth. This gives us some optimism in the outlook for our second half performance."
