Younger brands & online sales drive growth at N Brown

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%)

Sales from company’s younger brands, targeted at customers under 50 years of age, continued their strong momentum from last year, posting a 12% increase overall to £143m.  Jacamo continued to be fastest growing brand with sales up by 40% for its offer of fashionable menswear available in larger sizes, including the Freddie Flintoff range which has been extremely popular. 

There were also strong performances from Figleaves, which enjoyed the full benefit of last year’s cost reduction programme, and Simply Be, which is leading company’s international and multi-channel developments.

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.”

N Brown Group plc