JD Sports posts record interim results
JD Sports has said it is on track to meet its full year guidance as it announced record interim results.
In the six months to 3 August, revenue grew by 5.2% to £5.032 billion while adjusted pre-tax profit climbed by 2% to £405.6 million.
Subscribe to TRBMeanwhile, organic sales growth in the first half was 6.4% while like-for-like sales edged up 0.7%.
The retailer said it had benefited from the strength and agility of its multi-brand model and focus on operational excellence in the period. It was also helped by a strengthening of its presence in the US with the acquisition of sportswear retailer Hibbett.
JD Sports chief executive Régis Schultz said: “We have today reported record interim results with group revenue of £5.0 billion, and profit before tax and adjusting items of £405.6 million, underscoring our ability to outperform the sector in a volatile global marketplace.
“Our success is a direct reflection of the strength and agility of our global, multi-brand strategy, which allows us to adapt swiftly to fast-changing industry trends across the world, and our operational excellence. This ensures we continue to deliver an industry-leading customer proposition both in store and online.”
JD Sports is now reiterating its previous guidance for adjusted pre-tax profit of £955 million to £1.035 billion for its full year.
Schultz added: “I am very proud of our teams across the globe, whose dedication and hard work have been instrumental in achieving these results. Our strong business model and clear strategy position us to deliver long-term growth and value creation for our shareholders.”
