Retail shopping group N Brown has reported a decline in half year sales but a growth in profit.
According to its latest trading update for the 26 weeks ended 31 August 2024, total sales fell 6.7% to £277.2m from £297m in 2023.
Adjusted EBITDA resulted at £18.8m, up 7.4% from £17.5m year-on-year, while margin increased from 5.9% to 6.8%.
Steve Johnson, Interim Executive Chair & Chief Executive, said: “We have built on our return to profit in FY24 by delivering year-on-year progression in the first half of FY25. 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.
“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.”
