N Brown profit reaches £28.2m despite “volatile” climate

N Brown
N Brown chief executive Steve Johnson said there was “momentum” across the business

N Brown has recorded a rise in profits during its first half thanks to increased investments in its core clothing brands.

The fashion group’s statutory pre-tax profit reached £28.2 million in the 26 weeks to August 28, compared to £14.1 million the year before.

Adjusted EBITDA rose 10.4 per cent to £53 million during the same period.

READ MORE: N Brown revenue surpasses £168m in “challenging” year

Group revenue slipped 0.1 per cent to £364.8 million but product sales rose 3.3 per cent to £222.1 million, while revenues from its financial services proposition dropped 5.7 per cent to £124.7 million.

N Brown said sales of its five core brands – JD Williams, Simply Be, Jacamo, Ambrose Wilson and Home Essentials – climbed 14.9 per cent.

It comes after the group completed a £100 million fundraising last December to accelerate its “strategic investments” in the brands and product offer, as well as improvements to its websites.

N Brown chief executive Steve Johnson said there was “momentum” across the business despite operating in a “volatile” trading environment.

He said shoppers were “responding well to our improved product ranges, particularly across our five strategic brands”.

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