Sports chain's profits rocket

JD pre-tax profit up 71 per cent

JD Sports has announced that pre-tax profits have risen by over 70 per cent in the half year to August.

According to TheRetailBulletin, Pre-tax profits leapt from £5.3m to £9.1m on turnover, which was up 19 per cent at £299m. Underlying profits inreased by 54 per cent to £12.4m. Like-for-like sales were up by six per cent(5.9 per cent Sports Fascias; 6.7 per cent Fashion Fascias).

Peter Cowgill, Executive Chairman, said: ‘We are delighted with the performance of the Group during the period. Trading has been very positive with improved like for like sales and gross margin generating a significant increase in profit before tax and exceptional items. We continue to invest in our store portfolio, systems and training to provide a solid platform for future growth."

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