N Brown to trial 3 concept stores for Simply Be brand
16 May '11
2 min read
N Brown Group plc, the internet and catalogue home shopping company, announces its full year results for the 52 weeks to 26 February 2011.
Highlights:
- Total group revenue £718.8m - +4.2% - Operating profit - £102.6m - +5.1% - Profit before tax and fair value adjustment to financial instruments - £98.2m - +5.5% - Adjusted earnings per share - 27.02p - +9.1% - Full year dividend - 12.41p +15% - E-commerce sales - £324m - +19% - Like-for-like sales for the 10 weeks ended 7 May - +1.5% - Positive start to the launch of Simply Be in the USA
Lord Alliance of Manchester, CBE, Chairman, said: “We are pleased to announce another robust group performance in what can only be described as difficult trading conditions, and we are also encouraged by the good start to the new financial year. There is no doubt the UK consumer will be facing a tough time, with rising costs and falling income, but we are confident our strategy to focus on our core business, whilst investing in new brands and pushing forward internationally, will continue to deliver in 2011. I would personally like to thank everyone involved with the company for their ongoing hard work and support this year.”
Alan White, Chief Executive, added: ”Last year was a very busy one for the group, as we acquired Figleaves, developed High & Mighty stores, launched our Simply Be brand in the USA, as well as driving growth from our established brands. We have been rewarded with record results, both in terms of revenue and profit, for the seventh consecutive year. Our key focus this year will be to expand our home shopping business, both in the UK and internationally, particularly by further developing our online activities. While the current year will be challenging, I am confident this strategy will deliver another good result this year.”
N Brown Group, and its principal subsidiary, JD Williams and Company Ltd, is a leading internet and catalogue home shopping company, with over 140 years of experience in the distance shopping market. Our extensive ranges of value products, principally clothing, footwear, household and electrical goods, are carefully targeted at the right customers and are provided through whichever channels to market our customers demand. In addition we provide financial services to our customer base, including flexible credit plans.
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