N Brown Group has returned to profit according to today’s half year results.
Despite turnover falling at the Manchester-based ecommerce group, it is an improvement on last year, which Interim Chair and CEO, Steve Johnson sees as a positive sign:
“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,” he explained.
“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.”
During the first half of the financial year, it’s launched a new mobile-first website for JD Williams and introduced a new Product Information System, which it said is “fundamental” to its marketing strategy for the 3 brands – JD Williams, Simply Be and Jacamo.
Group revenue fell 6.7% during the period to £277.2m. Product revenue saw a drop of 7.9%, while its financial services income was down 4.6%.
The adjusted EBITDA was up 7.4% to £18.8m.
It stated that current trading was “encouraging” with product revenue still falling, but improving to -2% year on year. It said this would likely improve, supported by increased investment in marketing.
That’s been seen with JD Williams continued sponsorship of My Mum, Your Dad on ITV; Simply Be’s new proposition – Find That Feeling; and Jacamo’s partnership with LADbible.
