Tops Top News Online Real News Portal 
Specialist online fashion group N Brown, owner of brands like Jacamo, JD Williams and Simply Be, has returned to profit despite lower sales thanks to cost cutting.
It said that for the 52 weeks to March 2, it made a pre-tax profit of £5.3million on revenues of £600.9million. That compares with the £71.1million loss it registered for the preceding period, which was driven by a combination of write-offs and litigation costs, on revenues of £677.5million.
Despite its return to profit, N Brown chief executive Steve Johnson said that it will not resume dividend payouts to shareholders this year, after an absence of two years. He said that it will look at reintroducing payouts when its business performance allows and an overhaul of its operations is complete.
He said that N Brown’s strategic overhaul, which has seen it upgrade its systems, roll out a mobile first website for Jacamo, launch a new consumer finance arm and introduce new working patterns, is bearing fruit and that the business is positioned for “sustainable growth whilst always improving the customer experience”.
N Brown added that the rate of decline in its revenues has slowed, with the first quarter down 6% so far. It believes this will improve as its financial year progresses and that it will return to growth.
