8th Oct 2021 11:51
N Brown Group PLC - Manchester-based digital-only retailer of clothing and footwear - Considering resumption of dividend payments following strong trading in the first half of its financial year ended August 28. Pretax profit doubles to GBP28.2 million from GBP14.1 million a year before, following a focus on profitable growth. Despite the success, the Jacamo brand owner says there would not be an interim dividend, as with the prior year.
First-half revenue falls 0.1% to GBP346.8 million from GBP347.2 million. Ongoing investment in its digital offering helped boost sales when stores were shut, N Brown notes. Highlights "robust" balance sheet with net cash of GBP41.9 million that positions company well for the future.
"Over the last six months the consumer environment has been volatile," says Chief Executive Steve Johnson. "Nevertheless, momentum has continued throughout the business, with customers responding well to our improved product ranges; particularly across our five strategic brands."
"We continue to deliver on our plan and are feeling well prepared for peak trading."
Current stock price: 49.25 pence, up 4.1% Friday
Year-to-date change: down 18%
By Will Paige; [email protected]
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