N Brown improves profit in the first half

N Brown improved first half adjusted EBITDA by 7.4 percent to 18.8 million pounds and adjusted EBITDA margin by 0.9 ppts to 6.8 percent. Adjusted profit before tax of 3.6 million pounds, increased from 0.1 million pounds in H124, while statutory profit before tax of 0.2 million pounds was an improvement from a loss of 2.8 million pounds last year.

The company's revenue was down 6.7 percent to 277.2 million pounds, with product revenue of 172.7 million pounds down 7.9 percent and Financial Services revenue of 104.5 million pounds, down 4.6 percent.

Commenting on the company’s first half trading performance Steve Johnson, N Brown’s interim executive chair & 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 and we are encouraged by trading at the start of Q3.”

The company said in a release that it continued to focus on profitable sales in a market which remained soft and was characterised by unseasonal weather. N Brown drove adjusted group gross profit margin up 1.6ppts to 49.2 percent.

During the period under review, N Brown launched a new mobile-first website for JD Williams and product information management (PIM) system was also launched on all three strategic brands.

The company expects FY25 adjusted EBITDA to be in line with management expectations