JD Sports Fashion, based in the United Kingdom, reported profits grew by 36% for the six months ended July 31, to £19.4 million ($30.3 mm.)
Overall revenues in the 26 weeks to July 31 climbed 18.5% to £384 million ($598.9 mm), with gross margins up 0.2% to 48.2%.
The improvement was driven by the company's sports
stores, which saw operating profits increase by £4 million ($6 million) to £21.6 million ($33.7 mm) following
the World Cup.
It also noted signs of improvement in its fashion business, which trades
as Bank and Scotts. Across the group, like-for-like sales were 2.8% higher in the six months to the end of July, reflecting a 3.9% improvement for sports fascias and a drop of 3.8% in the
fashion business.
The group trades as JD Sports, Chausport, Size, Bank and Scotts from over 530 stores.
The company is also upbeat about the second half.
Peter Cowgill, the company's executive chairman, said, “We
are up against tough comparatives over the balance of the year and the
economic outlook remains uncertain, but the good foundation of these
first half results and our strong cash position mean both that we have
proposed another significant dividend increase, and we are well
positioned for further internal and external investment in our growth.
Trading is in line with our expectations.”
