JD Sports has reported a 41 per cent surge in revenue and a 33 per cent jump in operating profit during the six months to the end of July, citing a strong performance in its core UK business.
The retailer, which was founded near Manchester in 1981 and now has over 1,200 stores, said on Tuesday that the second half of its financial year had started strongly too and that it now expects year-end profits to be “towards the upper end of market expectations”, which currently range from about £268m to £290m.
“We remain confident that we are appropriately positioned to deliver further profitable growth and enhance long term shareholder value,” executive chairman, Peter Cowgill, said.
During the period to the end of July, JD Sports opened 12 new stores in the UK and Ireland and 23 across mainland Europe. It also opened its first stores in Australia.
On Tuesday the company said that it would continue to use its cash resources to make “selected acquisitions and investments where they benefit our strategic development”.
In November last year JD Sports bought Go Outdoors for just over £112m.
