Cash injection should help yearly figures
N Brown has sold its personal loan portfolio for£9.9 million. The business has a book value of£10.8 million. The buyer of the business was not named.

The retailers' financial services arm, First Financial, will continue to operate, but on a banking rather than a principal basis.

Seymour Pierce analyst Richard Ratner welcomed the move, saying the price for the business was better than expected. He raised his forecast for the retailer's pre-tax profits for the financial year ending in 2006 by£300,000 to£50.2 million.