N Brown maintains its 2015 final dividend

DividendMax Ltd.

N Brown maintains its 2015 final dividend

Financial highlights:

Total group revenue +3.5% to £866.2m (FY15: £837.2m)

Product revenue +4.1% and Financial Services revenue +2.1%

Product gross margin -20bps, at the top end of guidance, and Financial Services gross margin +20bps

Underlying operating profit excluding exceptionals -1.3% to £92.6m (FY15: £93.8m)

Underlying profit before tax -2.0% yoy to £84.5m (FY15: £86.2m), in line with expectations

H2 underlying profit before tax +11.0% to £49.5m

Statutory profit before tax -7.8% to £72.2m (FY15: £78.3m), reflecting exceptional costs largely incurred in the first half

Adjusted earnings per share from continuing operations 24.02p (FY15: 24.61p)

Statutory earnings per share from continuing operations 19.45p (FY15: 21.84p)

Proposed final dividend flat year on year at 8.56p, taking full year dividend to 14.23p, also unchanged on last year

Net debt £289.7m (FY15: £246.6m)

As announced in February we have restated our debtor impairment provision following a review of the application of IAS39

Companies mentioned