A "record" performance from JD Sports Fashion helped to drive a 25% increase in full-year sales

A "record" performance from JD Sports Fashion helped to drive a 25% increase in full-year sales

Pentland Brands, owner of the Berghaus, Speedo and Ellesse labels, has hailed its "world class" sports fashion business as the company booked a rise in both revenue and profit in its last fiscal year.

For the year ended 31 December 2017, group operating profit climbed 14% to GBP376m (US$494.4m) from GBP331m. Total revenues grew 25% to GBP3.6bn from GBP2.9bn in 2016, driven by a record performance from JD Sports Fashion.

The British company is the majority shareholder in JD Sports, which had "another exceptional year" with revenues up 33% and operating profits strongly ahead of the prior year. This was driven by JD's ongoing investment in enhancing its multichannel proposition and its focus on driving continual improvements through its buying, merchandising and retail disciplines.

Since year-end, JD has announced the completion of its acquisition of US athletic footwear retailer Finish Line.

Pentland continued to build its presence in key markets during the year, resulting in a strong performance by several of its brands. Ellesse enjoyed another strong year, delivering 21% revenue growth and building on the continued favourable trend in sports fashion.

Speedo, meanwhile, achieved 8% sales growth, underpinned by its move to a direct-to-consumer business model in China in 2016.

"I am delighted that Pentland Group's 85th set of annual results, once again, demonstrate our commitment to nurturing our brands and evolving our business to ensure we continue to meet the changing needs of our retail customers, brand partners and consumers," said chairman Stephen Rubin.