Published On: Thu, Apr 14th, 2016

JD Sports Sees Record Profits Up 56% To £158 Million

JD Sports

JD Sports opened an additional 38 stores across Europe in 2015.

On Thursday JD Sports Fashion Plc (LON:JD) released its preliminary full year results for the year ending 30th Janurary 2016 in which the company reported a record profit.

The business said it through its investment over numerous years in developing its multichannel retail proposition and driving improved buying, merchandising and retailing disciplines it has been able to draw on favourable trends which exist for athletic inspired footwear and apparel throughout Europe.

JD recorded a headline profit before tax and exceptional items of £158.9 million, up 56% from £102.2 million in 2015. Revenue rose by 20% to £1.82 billion from £1.52 in the prior period. The company saw like for like store sales increase by more than 10% for the second year running.

Peter Cowgill, Executive Chairman of JD Sports said:

“I am delighted to report that the Group has delivered another very strong set of results for the year to 30 January 2016 with the headline profit before tax and exceptional items increased by 57% to £157.1 million. Given that last year’s result was a record for our Group then the performance in the year was very pleasing, further demonstrating the increasing influence of the JD fascia in the UK and beyond.

During the year we have expanded our international presence with additional stores in existing European territories together with a number of stores in new countries. We continue to gain traction in Europe and are confident of the opportunities that exist for the JD fascia in these markets.”

The final dividend issues by the board was increased by 5.1% to 6.2p per share compared to 5.9p per share in 2015 totalling the years dividends at 7.4p compared to 7.05p.

After rolling out an additional 38 stores across Europe the board said it is encouraged by continued positive trading across the core of the company and they believe the fashion retailer is positioned for further profitable growth.

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