John David Group, the operator of sporting goods chain JD Sports, has increased profits by 51% on the back of higher revenues.

The sports fashion footwear and apparel retailer said that revenues for the period had increased 4% on a like-for-like basis, leading to the jump to GBP25.1m in profit before tax. 

John David Group executive chairman Peter Cowgill said: "I am pleased with the progress of the Group during the year and, specifically, the improvement in profit before tax and exceptional items from GBP16.6m to GBP25.1m accompanied by the continuing level of cash generation.
"Trading since the year end has been encouraging with like-for-like sales for the group for the 12 weeks ended 21 April 2007 being up 7.5%.

"Overall the board expects a further improvement in the group's results for the first half of the current year but remains aware of the more challenging environment which is likely to prevail in the balance of the year."

The company's Sports Fascias' turnover increased to GBP492.8m, it said, as like-for-like sales for the year excluding the Allsports and Hargreaves Airport stores portfolios rose 4.8%.
The 73 former Allsports stores retained by Sports Fascias as JD branches were fully integrated relatively early in the year and are performing satisfactorily, the company added.
The 14 Hargreaves Airport stores, acquired from Hargreaves (Sports) Limited on 23 June 2006, were not great contributors to profit during the year since they were adversely affected by new security measures operational at all airports since last August.

"We still believe that once these stores have been refurbished and refascia'd as necessary, with the right product offer and brand support, they will trade successfully and help us broaden our offer and appeal," the company said.