N Brown Group returns to profit despite drop in sales
N Brown Group, the owner of Simply Be, Jacamo and JD Williams, has announced that it returned to profit in the first half of its financial year.
In the six months to 31 August 2024, the group posted a pre-tax profit of £0.2 million compared to a loss £2.8 million in the corresponding period in the prior year. This was driven by a focus on maximising profitable sales and managing its cost base in a soft trading environment.
However, group revenue declined by 6.7% to £277.2 million as trading was hit by unseasonal weather in the period.
The group said it continued to make good progress on delivering against its strategic objectives. This included the successful launch of a new mobile-first website for JD Williams and the rollout of a new product information management system to all three of the group’s strategic brands.
N Brown Group said trading during the first five weeks of its third quarter has been encouraging, with product revenue trajectory improving to -2% against prior year.
Steve Johnson, N Brown Group interim executive chair and chief executive, said: “We have continued to deliver against our self-funded transformational priorities, including the successful launch of the new JD Williams website and our product information management system to the remaining strategic brands, whilst our financial services transformation continues to progress well with the new platform now in testing.
“These developments will enhance the customer experience and will be supported by strengthened marketing activity to help position the business for sustainable profitable growth.”
