JD Sports reports buoyant FY15, revenues rise 20 percent

Total revenue at JD Sports Fashion increased by 20 percent in the year to 1,821.7 million pounds (2,573.5 million dollars) and like for like sales across all Group fascias, including those in Europe, increased by 11.6 percent. Operating profit before exceptional items increased substantially by 56.7 million pounds (801 million dollars) to 158.9 million pounds (224.1 million dollars) driven by the performance in Sports Fashion assisted by a further reduction in the losses in Outdoor.

“I am delighted to report that the Group has delivered another very strong set of results for the year to January 30, 2016 with the headline profit before tax and exceptional items increased by 57 percent. During the year we have expanded our international presence with additional stores in existing European territories together with a number of stores in new countries,” Peter Cowgill, Executive Chairman, JD Sports Fashion.

Sports Fashion reports 49 percent rise in profit

Total gross margin in the year of 48.5 percent was broadly consistent with the prior year with an increase in the margin in Outdoor to 43.3 percent offset by a slight reduction in the margin in Sports Fashion to 49 percent.

Sports Fashion has had an exceptional year with operating profits before exceptional items increasing by 49 percent to 162.9 million pounds (229.7 million dollars). The buoyant market for branded athletic footwear and apparel across Western Europe led to like for like store sales growth of 10 percent for the second consecutive year.

The Outdoor fascias have made a good progress in the year with the operating loss before exceptional items reducing to 4 million pounds (5.6 million dollars) with the loss in the current year.

The Board proposes paying a final dividend of 6.20p bringing the total dividend payable for the year to 7.40p per ordinary share, an increase of 5 percent. The adjusted earnings per ordinary share before exceptional items have increased by 58 percent and the basic earnings per ordinary share have increased by 43 percent.

Current trading and outlook

Encouraged by the continued positive trading across our core fascias in the year to date and the Board continues to believe that the company is very well positioned for profitable growth.