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N Brown Group H1 Adj. Profit Rises; Revenue Down 5.4% - Quick Facts

Brown (N.) Group plc (BWNG.L), a clothing & footwear digital retailer, reported an increase of 4 percent in adjusted EBITDA for the 26 weeks ended 31 August 2019. The Group said it remains focussed on implementing its plans and the Board's full year expectations are unchanged.

For the first-half period, pretax profit was 18.8 million pounds compared to a loss of 27.1 million pounds, a year ago. Profit per share from continuing operations was 4.93 pence compared to a loss of 9.14 pence. Adjusted pretax profit improved to 31.8 million pounds from 30.6 million pounds. Adjusted earnings per share was 8.87 pence compared to 8.36 pence.

First-half Group revenue declined 5.4 percent to 432.9 million pounds, driven by product revenue declining 9.3 percent and financial services revenue increasing by 2.9 percent. Excluding stores and USA, product revenue was down 6.2 percent, for the period. Financial services revenue increased 2.9 percent.

The Board declared an interim dividend of 2.83 pence per share which is flat on last year's interim dividend. This will be paid on 5 February 2020 to shareholders on the register at the close of business on 3 January 2020.

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