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Annual Results

JD Sports pretax profits jump

11 April 2017 07:24

JD Sports Fashion has posted record results with pretax profits for the 52 weeks to 28 January up 81% at £238.4m and headline profit before tax and exceptional items up 56% at £244.8m.

Revenues were 31% higher at £2,378.7m and operating profit, before exceptional items, rose by 55% to £246.2m. Executive chairman Peter Cowgill said: "This has been another period of very significant progress for the group with the headline profit before tax and exceptional items increased by 56% to £244.8 million (2016: £157.1 million).

"Over a three year period the result has improved by more than 190% which is an outstanding performance and provides the Group with a robust platform for further development.

"The foundation of this success remains our core Sports Fashion fascias where JD's continued strength in its core markets is increasingly being complemented by momentum in our international development, with a net increase of 54 JD stores across mainland Europe during the year.

"It is a great testament to the strength and quality of the people at every level in our businesses that we have been able to consistently deliver outstanding results over a number of years. Our continued strength is principally due to their talent, energy and commitment and I thank everybody involved across the Group for delivering these excellent results.

"Whilst we must recognise that there are external influences which may impact the latter part of the year, notably inflationary pressures arising from Brexit, the Board remains confident in the robustness of the JD proposition and believes that the Group is well positioned for further profitable growth."

Story provided by StockMarketWire.com

Related Company: JD.

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