|
JD Sports Fashion PLC on Wednesday said revenue growth quickened in the run-up to Christmas, with the company now expecting annual profit at the top end of market expectations.
JD Sports shares were up 5.1% at 148.05 pence each on Wednesday morning in London. It was the best large-cap performer.
The Lancashire-based sportswear retailer said organic revenue in the six weeks to December 31 jumped more than 20% from a year before. In the 22 weeks to the end of December, organic revenue rose more than 10% annually. Organic annual growth picked up from 5% in the first-half.
JD Sports now expects pretax profit before exceptional items for the financial year ending January 28 at the top end of a £933 million and £985 million market consensus range.
The very top of that range represents growth of 4.0% from £947.2 million the year prior.
‘The ultimate outturn will, however, reflect trading through the remainder of January with the post-Christmas sale period still to take place in some of our most important European markets,’ JD Sports said.
Chief Executive Officer Regis Schultz added: ‘The engagement and commitment of our teams through the peak trading period has been phenomenal with many of our stores and websites delivering record sales and JD’s market-leading product and retail experience capturing the imagination of customers globally like never before.’
For financial 2024, it predicts its bottom-line to rise to £1 billion.
In September, JD Sports Fashion reported a rise in revenue to £4.42 billion in the six months that ended on July 30, from £3.89 billion a year earlier. Pretax profit, however, dropped to £298.3 million from £364.6 million.
By Xindi Wei, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
