N Brown’s profits rise

HOME shopping group N Brown posted an expected 5.5 per cent rise in full year profit and hiked its dividend 15 per cent as its older clients proved resilient to straitened times.

The Manchester-based company, which targets older shoppers with clothing brands such as Simply Be, Oxendales, Marisota and Jacamo, made an underlying pre-tax profit of £98.2m in the year to February 26.

That was bang in line with analysts’ consensus forecast, according to a poll of 13 provided by the company.

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Revenue increased 4.2 per cent to £719m and like-for-like sales increased 1.5 per cent in the 10 weeks ended May 7.

The firm, which is paying a dividend of 12.41p, said it had made a positive start with the launch of Simply Be in the United States.