Brown (N.) Group (BWNG)

Sector:

Retailers

Index:

FTSE AIM All-Share

39.30p
   
  • Change Today:
      0.20p
  • 52 Week High: 39.40
  • 52 Week Low: 13.98
  • Currency: UK Pounds
  • Shares Issued: 467.63m
  • Volume: 1,319,539
  • Market Cap: £183.78m
  • RiskGrade: 350

Profits spark at N Brown despite sales slide

By Abigail Townsend

Date: Thursday 10 Oct 2024

LONDON (ShareCast) - (Sharecast News) - Online retailer N Brown Group posted strengthened half-year profits and reiterated its full-year outlook on Thursday, despite a "soft" clothing market weighing on sales.
The firm, which owns JD Williams, Simply Be and Jacamo, saw group revenues in the 26 weeks to 31 August fall 6.7% to £277.2m. Within that, product revenues slid 8% to £172.7m while financial services sales fell 4.6% to £104.5m.

Adjusted earnings before interest, tax, depreciation and amortisation rose, however, by just over 7% to £18.8m, while pre-tax profits came in at £0.2m.

Last year, the AIM-listed retailer posted pre-tax losses of £2.8m.

N Brown said an improvement in the gross margin, to 49.2%, and cost discipline had helped grow both EBITDA and profits, despite a "soft" clothing market being hit by unseasonable weather.

The 165-year old company - which used to sell exclusively through catalogues before shifting online - said it had made good progress against its strategic objectives during the period, including launching a new JD Williams website.

Total orders decreased by 8% to 3.4m, but N Brown said it was a "significant" improvement against the prior year trajectory.

It also flagged "encouraging" trading in the first five weeks of the third quarter and reiterated its full-year outlook.

Steve Johnson, chief executive, said: "Our focus on maximising profitable sales and managing the cost base in a soft trading environment has ensured we remain on track to achieve management's full-year adjusted EBITDA expectations.

"We have continued to deliver against our self-funded transformational priorities.

"These developments will enhance the customer experience and will be supported by strengthened marketing activity to help position the business for sustainable profitable growth."

As at 1000 BST, shares in N Brown were up 1% at 28.2p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BWNG Market Data

Currency UK Pounds
Share Price 39.30p
Change Today 0.20p
% Change 0.51 %
52 Week High 39.40
52 Week Low 13.98
Volume 1,319,539
Shares Issued 467.63m
Market Cap £183.78m
RiskGrade 350

BWNG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
73.20% above the market average73.20% above the market average73.20% above the market average73.20% above the market average73.20% above the market average
85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average
Price Trend
97.96% above the market average97.96% above the market average97.96% above the market average97.96% above the market average97.96% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income Not Available
Growth
84.87% below the market average84.87% below the market average84.87% below the market average84.87% below the market average84.87% below the market average
71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average

BWNG Dividends

  Latest Previous
  Interim Final
Ex-Div 02-Jan-20 04-Jul-19
Paid 05-Feb-20 02-Aug-19
Amount 2.83p 4.27p

Trades for 31-Oct-2024

Time Volume / Share Price
15:07 519,567 @ 39.14p
16:36 1,330 @ 39.30p
16:36 1,330 @ 39.20p
16:35 413 @ 39.30p
16:35 295 @ 39.30p

BWNG Key Personnel

CFO Dominic Appleton

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