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N Brown Group reports record breaking 12 months
The home shopping retailer today reported a full-year profit increase of 15 percent as its shifts focus to online sales.
Accounting for 45 percent of N Brown’s ?324 million revenue, online sales overtook telephone orders for the first time as the company strengthened its online sales system.
“The online world is driving us forward,” Chief Executive Officer Alan White told press today, “We are investing in our online systems which will be the main driver of U.K. sales.”
In a full year set of results the company saw revenues grow 4.2 percent compared to last year’s figures, reaching ?718.8 million and making it a record breaking 12 months for the retailer.
Like-for-like trading rose by 1.3 percent although the figures did not take into account N Brown’s High & Mighty and Figleaves acquisitions.
N Brown stock rose by 6.8 percent to 305 pence, its largest rise since 2 December and giving the company a market value of ?851 million.
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