JD Sports half-year profit hits record £102.7m

Shares of Bury-based JD Sports Fashion rose about 9% on Tuesday after it said half-year profit before tax increased 33% to a record £102.7 million on revenue up 41% to £1.36 billion — and gave a positive outlook for the rest of the year.

JD Sports executive chairman Peter Cowgill said:  We are encouraged by the sales to date in the second half which have continued at similar levels to those in the first half supporting our continued confidence in the robustness of the JD proposition.

“We expect the year end outturn to be towards the upper end of market expectations, which currently range from approximately £268 million to £290 million, and remain confident that we are appropriately positioned to deliver further profitable growth and enhance long term shareholder value.”