N Brown Group H1 profits hit £28.2m
Group revenue dropped slightly to £346.8m from £347.2m in 2020 as a result of Covid-29 restrictions on trade earlier on in the year
Jacamo owner, N Brown Group, saw its pre-tax profits hit £28.2m for the six-months ended 28 August, rising from a profit of £14.1m the previous year, thanks to an ongoing strategic transformation in the period.
Group revenue dropped slightly to £346.8m from £347.2m in 2020 as a result of Covid-29 restrictions on trade earlier on in the year.
During the period, adjusted EBITDA grew 10.4% to £53m with the improvement in financial services margin “more than offsetting” the normalisation of costs.
It comes as the group saw its five strategic brands grow their product revenue by 14.9%, while overall product revenue grew by 3.3%. Over the period, the group said it also “stepped up” its marketing activity to support new campaigns, with several high-profile partnerships, including Amanda Holden and Davina McCall being signed as brand ambassadors for JD Williams.
The group also focused on ongoing improvements in its digital experience, including an improved customer checkout service.
Steve Johnson, chief executive, said: “This is testament to the restructuring work we have done across the group and the investments we are beginning to make to support our refreshed strategy.
“We’re excited to see new brand partnerships resonating with both existing and new customers, bringing this mission to life, including Amanda Holden and Davina McCall on JD Williams, and Frankie Bridge and Nicki Bamford-Bowes on Home Essentials.”
He added: “We are looking forward to exciting our customers with our new ranges as we head towards the Christmas peak. However, we do so with the backdrop of continued uncertainty around consumer confidence.”
