Home / Knowledge / News / Apparel/Garments / N Brown Group sales up 6% in FY'13
N Brown Group sales up 6% in FY'13
25
Apr '13
N Brown Group plc, the online, catalogue and stores retailer, announces its full year results for the 52 weeks ended 2 March 2013.

Total group revenue increased by 6.0% to £784.7m versus the 52 week comparative and by 5.5% on a like-for-like basis, excluding the non-comparable periods for newly opened stores. Having seen a reduction in the rate of gross margin in the first half of 1.6%, an equivalent increase in the second half resulted in an unchanged rate for the year of 53.0%.

Operating profit was up by 3.1% to £102.2m, after accounting for losses of £6.8m from the expanded customer recruitment programme, international trading and the Simply Be/Jacamo stores. Excluding these items core UK home shopping profit rose by 7.9% to £109.0m, despite the tough economic environment for consumers.

Profit before taxation was £96.4m (2012, £96.9m) but was up 2.6% to £95.1m after exclud-ing the impact of the 53rd week last year and the fair value adjustments to financial instru-ments.

Adjusted earnings per share were 28.15p, almost identical to last year despite a slightly higher tax charge of 17.6% (2012, 16.4%). The board is proposing a final dividend of 8.23 pence per share, up 6.3% on last year, giving a total dividend for the year of 13.68 pence up by 5.0%, and covered 2.1 times.

Net borrowings at 2 March 2013 reduced to £188.7m (2012, £192.5m) despite the continu-ing higher level of capital expenditure of £25.0m, primarily for online and stores develop-ment.

Net finance costs increased from £6.4m to £7.1m, covered 14 times by operating profit. Gearing has fallen from 48% to 42% on net assets which have risen by 10.9% to £446.0m.

Chairman’s Statement 2013

We are pleased to report that the group made good trading progress throughout last year and that this has continued into the new financial year. This is despite the continuing diffi-culties in the economy as a whole and for consumers and retailers in particular.

We have achieved these positive results by maintaining a clear focus on improving the product, presentation, value and service to our customers.

In addition we have invested heavily in our online systems, new customer recruitment, international expansion and concept stores which have the potential to be significant growth drivers in the medium term, although they reduce profits in the short term. The early signs from these activities look promising.

N Brown Group


Must ReadView All

Pic: Shutterstock

Textiles | On 25th Jun 2021

Half of all cotton-growing regions face severe climate risks by 2040

Climate change could expose half of cotton-growing regions globally...

Pic: Beximco Ltd

Textiles | On 25th Jun 2021

BSEC offers letter of intent to BEXIMCO's Tk 3000-cr Islamic bonds

The Bangladesh Securities and Exchange Commission (BSEC) recently...

Pic: Shutterstock

Textiles | On 25th Jun 2021

Prime Content| Australian cotton production, exports to grow in coming season: TexPro

Australian cotton production and exports are expected to move up...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

We are staring at livelihood crisis for weavers

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Alberto Gotti,

Alberto Gotti

Danitech was born from the will of a group of technicians to offer the...

Meghavi Suthar,

Meghavi Suthar

Founded by NIFT graduate <b>Meghavi Suthar </b>in 2017, Kala is an...

Raiyan Islam,

Raiyan Islam

Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search