JD Sports reports ‘record’ 15.4% profits jump

Sportswear retailer JD Sports has reported a 15.4% increase in pre-tax profits to £339.9m for the year ending 2 February 2019.

Total like-for-like sales grew by 6% for global Sports Fashion fascias, against a backdrop of “widely reported retail challenges” in the group’s core UK market. The retailer also recorded a “record” EBITDA result (before exceptional items), which increased by 26.8% to £488.4m.

Peter Cowgill, executive chairman, said: “We firmly believe that the elevated and dynamic multi brand multi channel proposition of the core JD fascia, which enjoys the ongoing support of the key international brands, has the necessary agility to continue to exceed consumer expectations and prosper in an increasing number of international markets.

“Given the significance of Easter trading to the overall result of the group and the change in the timing relative to last year, any announcement of like for like sales performance in the year to date would lack precision. However, we are pleased with the continued underlying positive performance of the group and are excited by the major developments ahead.”