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JD Sports resumes dividend, forecast higher annual profit amid reopening
StockMarketWire.com
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Sportswear retailer JD Sports Fashion resumed its final dividend and forecast higher annual profit following a fall in 2020 as temporary store closures owing to the pandemic impact weighed on sales.
The company forecast headline pre-tax profit for the full year to 29 January 2022 would be in the range of £475 million to £500 million.
For the 52 weeks ended 30 January 2021, pre-tax and exceptional items profit fell to £421.3 million from £438.8 million, while revenue grew approximately 1% to £6.17 billion.
The dividend was resumed and a final unchanged dividend of 1.44 pence was declared.
'After a difficult start to the year with a further period of store closures in a number of markets and the operational disruption from Brexit, it is pleasing to report that stores in our domestic market have now started to re-open,' the company said.
'We are encouraged with trading to date in the new year with levels of sales retention in those markets which have experienced closures running slightly ahead of those in Spring 2020,' it added.
Interim results is scheduled for 14 September 2021.
Story provided by StockMarketWire.com
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