JD Sports sees record half yearly result

JD-Sports-Exterior-windowJD Sports saw profits increase more than 17 per cent to £95.4 million (NZ$189.86 million) in the six months to August 4, from £81.1 million (NZ$161.4 million) in the previous corresponding period.

The sporting retailer saw gross revenue jump 35 per cent to £1.84 billion (NZ$3.66 billion), from £1.36 billion (NZ$2.71 billion), while basic earnings per share increased 24 per cent to 10.05p (20 NZ cents), from 8.09p (16.1 NZ cents).

“This is another record result for our group demonstrating that our multibrand multichannel premium offer has resilient profitability in its core UK and Ireland market with capacity for continued growth across an increasing number of international markets,” JD Sports executive chairman Peter Cowgill said.

“Sales to date in the second half have continued at a similar levels to those in the first half, supporting our continued confidence in the robustness of the JD proposition.”

Like-for-like store sales for the APAC region stayed flat.

The company said it will issue a more robust trading update after the Christmas period.

This story originally appeared on sister-site Inside Retail Australia.

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