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N Brown Group Posts Narrower Pretax Loss In H1; Revenue Up 1.0% - Quick Facts

Brown (N.) Group PLC (BWNG.L) reported a statutory pretax loss of 27.1 million pounds for the 26 weeks ended 1 September 2018 compared to a loss of 27.6 million pounds, prior year. Loss per share from continuing operations was 9.14 pence compared to a loss per share of 7.50 pence. Adjusted pretax profit was 30.6 million pounds compared to 32.2 million pounds. Adjusted earnings per share was 8.36 pence compared to 8.77 pence.

First-half Group revenue increased by 1.0% to 457.8 million pounds. Product revenue excluding stores, which have all now closed, decreased 3.1% to 304.5 million pounds. Product revenue including stores was down 3.7% to 311.4 million pounds.

The Board has decided to rebase the interim dividend to 2.83 pence per share, a reduction of 50.0% on the prior year, which it also intends to reflect in the final dividend.

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