JD Sports see FY in line as strong demand boosts lifts H1 profits by 25%

by | Sep 21, 2023

(Sharecast News) – UK sportswear retailer JD Sports Fashion said it was still on track to deliver a 5% rise in annual profit after interim earnings rose by more than a quarter driven by strong sales despite the cost-of-living crisis.
It expects to post pre-tax profits of £1.04bn for the year to January 2024.

Underlying sales for the six months to July 29 rose 12% to £4.7bn, while pre-tax profit surged 25.8% to £375.2m.

“In the last seven weeks, trading across the group has continued in line with our expectations. At constant exchange rates, organic sales growth was 10%. In addition, we have continued to open new JD stores worldwide and are on track to meet our full-year store targets,” the company said on Thursday.

Reporting by Frank Prenesti for Sharecast.com

Related articles

Fidelity and Abrdn China funds agree to merge

Fidelity and Abrdn China funds agree to merge

(Sharecast News) - Fidelity China Special Situations (FCSS) announced an agreement with Abrdn China Investment Company (ACIC) on Tuesday over a proposed combination of the two entities. If approved by their respective shareholders, the combination would take place...

Latest Articles

Join our mailing list

Subscribe to our mailing list to receive regular updates!