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JD Sports raises dividend 50 per cent as profits surge

Like for like revenue increased by 2.5 per cent (Sports Fascias 2.3 per cent; Fashion Fascias 3.6 per cent)

CITY & CORPORATE

JD Sports raises dividend 50 per cent as profits surge

JD Sports said total revenue increased by £98.9m to £769.8m in the year to end-Janaury, including £48.1m from the acquired businesses Like for like revenue increased by 2.5% (Sports Fascias 2.3%; Fashion Fascias 3.6%).

Total revenue increased by £98.9m to £769.8m in the 52 weeks ended 30 January, while like for like revenue rose by 2.5% (Sports Fascias 2.3%; Fashion Fascias 3.6%). Profit before tax and exceptional items was up 26% to £67.4m.

The group said trading in the 10 weeks to 10 April has been encouraging with UK and Ireland retail like for like sales up 2.0% (Sports Fascias 3.0%; Fashion Fascias -3.5%) on an underlying basis taking into account the change in the timing of Easter and school holidays, though like for like sales are lower.
 
Chief executive Peter Cowgill said: "The board remains focused on continuing to deliver operational and financial progress for the group over the long term.”

“Opportunities for profit growth overseas, the rollout of our principal Fashion Fascia, development of our differentiated and own brand proposition, and growth in our Distribution business all help to reduce threats to group profitability and give us the opportunity to maintain the positive momentum in our business."

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