JD Sports posts strong growth

JD Sports has posted an increase in both its sales and profits in the first half of its financial year.

Group revenue climbed by 47% to £2.7 billion in the 26 weeks to August 3^rd following an increase in total like-for-like sales at the groups sports fashion fascia’s, including more than 10% sales growth in the UK and Ireland.

Peter Cowgill, JD Sports executive chairman, said: ““Against a backdrop of widely reported retail challenges in the UK, it is extremely encouraging that JD has delivered like-for-like sales growth of more than 10% with an improved conversion reflecting consumers’ increasingly positive reaction to our elevated multichannel proposition.”

There was a 37% rise in group EBITDA to £235.2 million, while pre-tax profit before exceptional items grew by 36% to £166.2 million.

The group continued its international expansion, with a net increase of 23 stores in Europe and seven in the Asia Pacific region.  It also has six stores in the US.