Shares in Jacamo and SimplyBe owner N Brown Group PLC (AIM:BWNG) delivered a weighty heave higher, rising 20% after a swing back into the black.
The final results from the struggling home shopping group showed total revenue down 10% to £600.9 million in the year to 2 March.
Underlying profits (EBITDA) fell 12.5% to £47.6 million, which was above expectations.
Statutory profit before tax came in at £5.3 million, a big swing from the £71.1 million loss the year before.
Net cash of £30 million was generated in the year after further investment of £23 million in business transformation plans, leaving £65.2 million of cash and equivalents on the balance sheet at year end, with total accessible liquidity of over £148 million including a revolving bank facility, with net debt standing at £236.3 million.
CEO Steve Johnson trumpeted that the retailer has "kept to our transformation plans, despite the macro-economic backdrop, whilst building resilience through our strong balance sheet, and achieving adjusted EBITDA above market expectations".
Looking ahead, he said the liquidity position "allows for continued investment in our strategy, positioning the business for sustainable growth whilst always improving the customer experience".
In current trading, the rate of product revenue decline was said to have "moderated", with the first quarter of the new financial year seeing a 6% fall and "this improvement is expected to continue as the year progresses".