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N Brown group operating profit rises by 26.5%

10 May '07

3 min read

N Brown Group plc, the Manchester based direct home shopping company announces its Preliminary results for the 52 weeks to 24 February 2007.

Lord Alliance CBE, Chairman, said:
“The board has been successful in focusing on its core home shopping business, resulting in record levels of turnover and operating profit and a strong balance sheet. This enabled us to make the one-off £80m return of value to shareholders in March.” “Following an encouraging start, I am confident the group will make further progress this year, despite challenging market conditions.” Alan White, Chief Executive, added.

“This was another excellent year for the group and we are pleased with the strong performance across the business. We have focused on improving the quality and scope of our catalogue and product ranges, providing better customer services and the continued development of all our channels to market. The internet has become an increasingly important part of our strategy and as well as providing a core sales channel, now serves as an excellent platform for the launch of new catalogue brands and concepts. With the strategy we have in place, I am confident that we will deliver further growth this year.”

CHAIRMAN'S STATEMENT 2007:
The group results for the 52 weeks ended 24th February 2007 show continued progress in our specialist home shopping business, resulting in record levels in both sales and profits. To reflect this the directors are proposing a 20% increase in the final dividend on top of the 27p per share return of value paid to shareholders in March 2007. The group has also announced its commitment to clearing the current pension fund deficit of £27m by 2010.

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