Advertisement

N Brown Group posts rise in annual profits

Online retailer N Brown Group reported an increase in annual profits as sales rose on the back of a growing trend towards shopping on the web.

Online retailer N Brown Group reported an increase in annual profits as sales rose on the back of a growing trend towards shopping on the web.

Profit before tax for the year to March 2nd rose 2.6% year-on-year to £96.4m while operating profit jumped 3.1% to £102.2m.

Group revenue climbed 6.0% to £784.7m as online sales grew 55% with more than a quarter transactions made using a mobile device. US sales also boosted results, increasing 75% to £8.4m.

Advertisement - Article continues below

"We have delivered a good set of results for the group, and we have seen positive like-for-like growth in the period since year end," said Chairman Andrew Higginson.

"Sales online have reached 55%, and with over a quarter of these now being transacted on a mobile device, we expect this trend to continue. With our strategy of on-going investment the business remains set to continue to grow in the future."

The company raised its dividend by 5.0% to 13.68p.

Alan White delivered his last set of results as Chief Executive after almost 28 years with the business. Angela Spindler, currently the Chief Executive of The Original Factory Shop, will take over on July 1st.

"It is hard to believe that the business I joined in 1985 with sales of £42m could have delivered these results today," said White.

"I would like to personally thank everyone for their support, enthusiasm and dedication over the years and I offer Angela Spindler and Andrew Higginson my full support and best wishes to continue to realise the potential of the group."

RD

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Don’t despair on dividends – these companies could be set to bring them back
Income investing

Don’t despair on dividends – these companies could be set to bring them back

The value of dividends paid out by UK stocks has plummeted this year as companies “rebase” their payment policies. But things could soon start to look…
6 Aug 2020
Gold hits the big $2,000 level – are Aim miners about to play catch up?
Gold

Gold hits the big $2,000 level – are Aim miners about to play catch up?

With the price of gold shooting through $2,000 an ounce, the yellow metal looks unstoppable. Things are so bullish, even Aim-listed junior gold miners…
5 Aug 2020
Too embarrassed to ask: what is “real return”?
Too embarrassed to ask

Too embarrassed to ask: what is “real return”?

MoneyWeek's latest "too embarrassed to ask” video explains what a real return is and why it's so important for investors.
5 Aug 2020