JD Sports revenue up 49% to £4.7bn; profit at £340m

Shares of Bury-based JD Sports Fashion Plc rose about 7% on Tuesday after it said its revenue soared 49.2% to £4.7 billion profit and before tax increased 15.4% to £339.9 million in the 52 weeks ended February 2, 2019.

Total dividend for the year will be 1.71p, an increase of 4.9%.

JD Sports executive chairman Peter Cowgill said: “We firmly believe that the elevated and dynamic multibrand multichannel proposition of the core JD fascia, which enjoys the ongoing support of the key international brands, has the necessary agility to continue to exceed consumer expectations and prosper in an increasing number of international markets.

“We believe that our acquisition of the Finish Line business in the United States, the largest market for sport lifestyle footwear and apparel and the home to many of the global sportswear brands, will have positive consequences for our long-term brand engagement whilst significantly extending the group’s global reach.

“We maintain our belief that Finish Line is capable of delivering improved levels of profitability.”