Edition:
India

N Brown Group PLC (BWNG.L)

BWNG.L on London Stock Exchange

121.50GBp
10 Dec 2019
Change (% chg)

0.20 (+0.16%)
Prev Close
121.30
Open
127.00
Day's High
127.00
Day's Low
120.20
Volume
16,833
Avg. Vol
238,991
52-wk High
153.00
52-wk Low
81.65

Latest Key Developments (Source: Significant Developments)

N Brown first-half profit rises, boosted by online push
Thursday, 10 Oct 2019 

Oct 10 (Reuters) - N Brown Group PLC ::H1 PRETAX PROFIT ROSE 169.4 PERCENT TO 18.8 MILLION STG.HY GROUP REVENUE DECLINED 5.4% TO £432.9M.DECLARING AN INTERIM DIVIDEND OF 2.83P PER SHARE WHICH IS FLAT ON LAST YEAR'S INTERIM DIVIDEND.BOARD'S FULL YEAR EXPECTATIONS ARE UNCHANGED.MINDFUL OF CONTINUED CHALLENGING MACRO-ECONOMIC ENVIRONMENT AND SIGNIFICANT UNCERTAINTIES SURROUNDING BREXIT.FY20 YEAR-END NET DEBT GUIDANCE BETWEEN £470M TO £490M.N BROWN - AS RESULT OF AUGUST SPIKE IN INFORMATION REQUESTS, COMPLAINTS, ADDITIONAL PROVISION FOR CUSTOMER REDRESS OF £25M MADE IN HY.HY ADJUSTED PBT INCREASED 3.9% TO £31.8M.CONTINUED FOCUS HAS BEEN PLACED ON GROUP'S OVERALL HEDGING POSITION TO ENSURE APPROPRIATE COVER EXISTS OVER NEXT 18 MONTHS.CURRENT HEDGING POLICY DOES NOT EXTEND BEYOND 24 MONTHS..N BROWN - BREXIT STEERING GROUP CONTINUES TO MAP SPECIFIC SCENARIOS AND DRIVE ACTIONS TO MITIGATE POTENTIAL RISK ARISING FROM A NO DEAL BREXIT.N BROWN - REVIEW OF 3RD PARTY SUPPLIER READINESS FOR NO DEAL COMPLETED.N BROWN - DETAILED MODELLING OF POSSIBLE NO DEAL SCENARIOS BEING DONE TO MITIGATE IDENTIFIED BREXIT RISKS.N BROWN - LIQUIDITY HEADROOM IMPACTED BY FURTHER FINANCIAL REDRESS PROVISIONS DUE IN FY20, WOULD BE ADDITIONALLY IMPACTED BY ADVERSE MARKET CONDITIONS.  Full Article

N Brown expects extra PPI provision of 20-30 mln stg
Thursday, 12 Sep 2019 

Sept 12 (Reuters) - N Brown Group PLC ::BROWN (N.) GROUP PLC - UPDATE ON FINANCIAL REDRESS.  Full Article

Invesco Ltd Cuts Stake In N Brown To 4.50 Pct From 9.81 Pct - Filing
Friday, 3 May 2019 

May 3 (Reuters) - N Brown Group PLC ::INVESCO LTD CUTS STAKE IN N BROWN TO 4.50 PERCENT FROM 9.81 PERCENT - FILING.  Full Article

N Brown Group Appoints Steve Johnson As CEO
Tuesday, 26 Feb 2019 

Feb 26 (Reuters) - N Brown Group PLC ::BROWN (N.) GROUP PLC - N BROWN GROUP APPOINTS STEVE JOHNSON AS CEO.N BROWN GROUP PLC - STEVE WAS APPOINTED INTERIM CEO IN SEPTEMBER 2018 HAVING PREVIOUSLY ACTED AS CEO OF FINANCIAL SERVICES FOR GROUP.  Full Article

N Brown Says FY Expectations Unchanged
Thursday, 17 Jan 2019 

Jan 17 (Reuters) - N Brown Group PLC ::TRADING STATEMENT.QTRLY GROUP REVENUE -1.6 PCT.QTRLY DIGITAL SALES NOW ACCOUNT FOR 78.5 PCT OF PRODUCT REVENUE COMPARED TO 71.0 PCT FOR SAME PERIOD LAST YEAR.CONTINUE TO MANAGE ANTICIPATED DECLINE OF OUR LEGACY OFFLINE BUSINESS.TRADING OVER CYBER AND CHRISTMAS PERIODS WAS RELATIVELY CONSISTENT AND IN LINE WITH OUR EXPECTATIONS.FULL YEAR EXPECTATIONS UNCHANGED.TOTAL Q3 PRODUCT SALES (EXC. STORES) DECLINED BY 6.0 PCT.CONTINUES TO EXPECT THAT ITS MARKETING COSTS WILL INCREASE BY £6M TO £9M P.A. ON A FULL-YEAR BASIS FROM FY20.  Full Article

N Brown CEO Angela Spindler To Step Down
Wednesday, 12 Sep 2018 

Sept 12 (Reuters) - N Brown Group PLC ::N BROWN GROUP PLC - ANGELA SPINDLER TO STEP DOWN AS CHIEF EXECUTIVE OFFICER.N BROWN GROUP PLC - ANGELA SPINDLER TO STEP DOWN AS CHIEF EXECUTIVE OFFICER.N BROWN GROUP PLC - BOARD OF N BROWN GROUP PLC ANNOUNCES THAT IT IS TO COMMENCE SEARCH FOR A NEW CHIEF EXECUTIVE.N BROWN - BOARD HAS ASKED STEVE JOHNSON, CURRENTLY CEO OF FINANCIAL SERVICES BUSINESS, TO ASSUME ROLE OF INTERIM GROUP CEO.  Full Article

N Brown To Consider Closing 20 Stores
Thursday, 14 Jun 2018 

June 14 (Reuters) - N Brown Group PLC ::N BROWN GROUP PLC - FULL YEAR EXPECTATIONS ARE UNCHANGED.N BROWN GROUP PLC - Q1 GROUP REVENUE UP 0.4%.N BROWN GROUP PLC - Q1 TOTAL ONLINE REVENUE +3% AND POWER BRAND ONLINE REVENUE +9%.N BROWN GROUP PLC - COMMENCED A CONSULTATION PROCESS WITH COLLEAGUES OVER FUTURE OF SMALL STORE ESTATE.N BROWN GROUP PLC - ENTERING INTO A CONSULTATION WITH STORE COLLEAGUES TO CONSIDER CLOSING 20 STORES AHEAD OF LEASE EXPIRY.N BROWN GROUP PLC - ANTICIPATE THAT CONSULTATION PROCESS WILL BE COMPLETED AROUND TIME OF HALF YEAR RESULTS IN OCTOBER. SHOULD.N BROWN GROUP PLC - SHOULD DECISION BE TAKEN TO CLOSE 20 STORES, ANTICIPATE EXCEPTIONAL COST OF £18M TO £22M, OF WHICH ABOUT HALF WILL BE IN CASH.N BROWN GROUP PLC - SEES FY19 EXCEPTIONAL COSTS £22M TO £26M.  Full Article

N Brown Group Says FY Revenue 922.2 Million Stg
Thursday, 26 Apr 2018 

April 26 (Reuters) - N Brown Group PLC ::FY PRETAX PROFIT 16.2 MILLION STG.FY REVENUE 922.2 MILLION STG.SEES FY19 PRODUCT GROSS MARGIN FLAT TO +100BPS.SEES FY19 FINANCIAL SERVICES GROSS MARGIN -100BPS TO -200BPS.SEES FY19 GROUP OPERATING COSTS +1.5% TO +3.5%.SEES FY19 NET INTEREST £12M TO £13M, REFLECTING OUR NEW EXTENDED FINANCING FACILITIES.SEES FY19 CAPEX C.£40M.SEES FY19 NET DEBT £425M TO £450M, WHICH ASSUMES £25M TO £50M GROWTH IN FINANCIAL SERVICES CUSTOMER LOAN BOOK.FY ADJUSTED TRADING PROFIT BEFORE TAX WAS £81.6M, UP 1.3% YEAR ON YEAR.N BROWN GROUP - STATUTORY PROFIT FOR YEAR OF £16.2M, HEAVILY IMPACTED BY EXCEPTIONAL COSTS OF £56.9M WHICH LARGELY RELATE TO LEGACY ISSUES.FY GROUP REVENUE WAS UP 3.9% TO £922.2M.FY PRODUCT GROSS MARGIN WAS 52.2%, DOWN 250BPS FOR YEAR AS A WHOLE, AND DOWN 320BPS IN SECOND HALF.PROPOSING TO HOLD FULL YEAR DIVIDEND CONSISTENT WITH LAST YEAR, AT 14.23P..FY ONLINE REVENUE WAS UP 10% YEAR ON YEAR.  Full Article

UPDATE 1-N Brown posts higher profit, online push pays off

Oct 10 Plus-sized fashion retailer N Brown reported higher first-half adjusted pretax profit on Thursday, as it reaps the benefits from transitioning to an online-only business after closing all its stores last year.