JD Sports reports strong performance
UK apparel and footwear retailer JD Sports has announced that its profit has increased 20.6% in its results for the 26 weeks ended 30 July 2011 (comparative figures are shown for the 26 week period ended 31 July 2010).
Total group revenue increased by 14.6% to £439.8 million, of which £35.1 million came from businesses not wholly owned in both six month periods. Profit before taxation increased by 20.6% to £20.1 million (from £16.6 million in 2010).
Peter Cowgill, Executive Chairman, said: “Our continual focus on exploiting all avenues of revenue growth and margin protection has enabled us to deliver a level of profit that represents a platform for meeting expectations for the full year, although trading conditions remain tough.
“Trading since the period end has continued to improve with gross like for like sales for the core UK and Ireland retail fascias in the seven week period to 17 September up by 3.3%.
