Home shopping group N Brown will focus on new markets and an enhanced customer offer to continue to increase sales after a strong full-year performance.
In the year to February 28, underlying pre-tax profits soared 11.3 per cent to £82.7m as the retailer’s low cost base and niche position helped it beat market expectations.
KBC Peel Hunt analyst John Stevenson said: “N Brown continues to deliver excellent mail order execution. We believe the scope to develop international markets over the medium term has the potential to become a material revenue stream.”
N Brown chief executive Alan White said that the initial entry into the German market had met expectations and online had performed better than expected.
This year the retailer will research the possibility of entering other English-speaking countries including the US, Canada and Australia.
In August it will send out its biggest ever over-65s catalogue under a new brand, Julipa, which will bring together all of its products for older customers. White said: “We hope by drawing together our entire product range for that customer we can grow incremental sales.”