Simply Be helps N Brown H1 revenue rise to £453m

Manchester-based fashion retailer N Brown Group said its revenue rose 5.6% to £453.4 million in the 26 weeks to September 2, with adjusted trading profit before tax up 1.8% year on year to £32.2 million.

“The statutory loss for the half year of £27.6 million relates to previously announced exceptional costs of £54.9 million and largely relate to legacy issues,” said N Brown.

“Our three Power Brands all delivered a good performance, with Simply Be the standout with revenue growth of 21.0%.”

N Brown Group CEO Angela Spindler said: “I am very pleased to report continued good trading in the half, with Simply Be the standout performer recording 21% growth.

“We made significant ladieswear market share gains against what remains a subdued consumer backdrop.

“In line with other retailers, FX rates represent a headwind and this was particularly felt this half.

“Our transformation into a flexible, online retailer continues to benefit all aspects of our business and we are today sharing our three growth levers going forwards.

“These are continuing to gain share in the UK, growing internationally and working in partnership with other companies to offer even more choice to our customers.

“At this early stage in the second half, current trading is on track with our plan and we are focused and well prepared for the peak trading period ahead.

“We are confident in our ability to deliver sustainable long-term growth and achieve our international ambitions.”