StockMarketWire.com - N Brown warned on profit blaming a weaker-than-expected financial services revenue amid lower product sales.

Due to a lower than expected benefit from the IFRS9 non-cash provision estimate, combined with lower Financial Services revenue and a highly promotional market, the company said it now expected 2020 adjusted pre-tax to be in the range of £70m of £72m.

For the 18 week period to 4 January 2020, revenue fell 5%, with digital revenue up 2.5%, but product revenue down 4%.

Financial Services revenue fell 4.6%, due 'to lower product revenue and impact of previously announced measures undertaken on changes to our lending practices,' the company added.


At 10:03am: [LON:BWNG] Brown N Group PLC share price was -37.3p at 104.6p



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