JD posts record half-year trading figures

Pre-tax profits for the 26 weeks to August 2 increased to £16.45 million, compared to £6.09 million for the same period in 2013.

Total revenue was £721.45 million, up 27 per cent on last year.

Operating profits in the retailer’s sport business rose to £34.8 million from £26.1 million.

The turnaround in its combined Blacks and Millets outdoor business continues after last year’s major restructuring activity – operating losses have been slashed from £8.9 million to £5.6 million.

In addition, like-for-like store sales grew 12 per cent during the period.

“The group has delivered record results for the first half, with encouraging progress in the principal areas of the business, notably our UK and European sports fascias,” executive chairman Peter Cowgill says.

“I am also pleased with the positive progress in our outdoor business, particularly since the move to our central facilities was only completed in July last year.

“Our sports operations continue to provide the engine for profit growth and cash generation in the group and will therefore continue to be the primary focus of investment.”

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