LONDON May 1 British plus-size fashion group N
Brown, whose brands include Simply Be and Jacamo,
posted a 5.3 percent rise in annual profit and said sales growth
had continued into its new fiscal year.
The Manchester, northwest England-based home-shopping group
said on Thursday it made an underlying pretax profit of 100.1
million pounds ($169 million) in the year to March 1, in line
with analysts' forecasts.
Revenue increased 6.4 percent to 834.9 million pounds, the
firm said, helped by strong growth in its young female and male
consumer segments. Online sales made up 58 percent of total
sales as the firm focuses on investment in its websites.
N Brown is expanding its business by opening a small number
of click-and-collect stores in major British shopping districts,
growing online sales and moving into the United States.
Supported by these changes, N Brown chief executive Angela
Spindler said it would look to achieve a double digit rate of
sales growth during its fiscal year to Feb, 2016.
The group said it had made a good start to 2014-15.
Shares in the group closed at 513 pence on Wednesday, up 15
percent on a year ago, valuing the business at 1.45 billion
pounds. ($1 = 0.5922 British Pounds)
(Reporting by Neil Maidment; Editing by Brenda Goh)