JD Sports Fashion Plc announces record half-year profits
North West retailer JD Sports Fashion Plc has announced half-year revenue and profit growth as it continues to expand its network of UK and international stores.
The Bury-headquartered firm this morning (September 12) reported a record pre-tax profit of £102.7m for the 26 weeks to July 29, up year on year by 33%.
Revenues rose to £1.37bn, up 41% in comparison to the same period in 2016.
Over the course of H1, JD achieved a net increase of 12 stores in the UK and Ireland.
The firm also managed to boost its international footprint with a net increase of 23 JD outlets across mainland Europe, its first opening in Australia and additional sites in Malaysia.
Peter Cowgill, executive chairman of JD Sports Fashion, said: “I am delighted to report that the Group continues to make strong progress with profit before tax for the first half increased by a further 33% to a new record level of £102.7m.
“This is another pleasing result demonstrating the strength of our highly differentiated multichannel proposition and our ability to prosper in an increasingly competitive market for athletic inspired footwear and apparel.”
He continued: “The base of our ongoing excellent multi-channel retail performance comes from the continued strength of our core UK and Ireland Sports Fashion fascias.
“We have strengthened our foundations by significant progression internationally both instore and online so that the JD fascia now has a much broader store and multichannel consumer reach and brand influence globally.”
Speaking further, Mr Cowgill said sales to date during H2 have come in “at similar levels to those in the first half”.