UK: JD Sports unveils healthy profit rise
Sporting goods retailer JD Sports has posted a rise in group profit before tax and exceptional items of 26% to GBP67.4m (US$92m), up from GBP53.6m in 2009.
Total revenue increased by GBP98.9m to GBP769.8m, up from GBP671m last year, including GBP48.1m from acquired businesses
Like for like revenue increased by 2.5% - with the Sports Fascias and Fashion Fascias divisions representing 2.3% and 3.6% respectively.
"The year ended 30 January 2010 has been the sixth successive year of good progress in revenue and profitability for the group," said executive chairman Peter Cowgill.
During the period, we have improved our profit before tax and exceptional items by 26% - this follows increases of 24%, 73% and 51% in the previous three years and such sustained performance, in the face of less than favourable economic conditions and exchange rates, reflects the strength of our brand."
Acquisitions made last year included Chausport in France for GBP7.9m.
Retailer JD Sports Fashion reported a 70% surge in first-half profits, driven by double-digit revenue gains from its sports-themed stores in particular....
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