- Prachi Singh |
For the year to December 31, 2018, Pentland Group Plc reported total group revenue growth of 38.9 percent to 5.1 billion pounds (6.4 billion dollars), which the company said was driven by a record performance from JD Sports Fashion plc. The company said, group operating profit increased by 9.3 percent to 411 million pounds (517 million dollars); while group net assets increased by 31 percent to 1.7 billion pounds (2.1 billion dollars).
Commenting on the company’s annual trading, Stephen Rubin, Chairman of Pentland Group, said in a statement: “These results demonstrate our commitment to nurturing our brands and evolving our business to ensure that we meet the changing needs of our retail customers, brand partners and consumers. Today, Pentland Group’s products are sold in approximately 190 countries and we employ over 50,000 people.”
JD Sports boosts Pentland Group revenues
The company added that JD Sports Fashion, in which Pentland Group is the majority shareholder, delivered record results. In 2018, JD saw 83 new store openings, including 78 within international markets, acquisition of Finish Line in the United States, the largest market for sport lifestyle footwear and apparel, acquisition of Sport Zone, one of the largest multi-branded sports retailers in the Iberian peninsula and in April 2019, JD acquired the UK retail business of Footasylum.
The company further said that Pentland Brands continued to grow its brands’ presence across key international markets. In 2018, the company acquired the Endura cycling brand, posted double-digit revenue growth for the Ellesse brand globally, including the launch of Ellesse footwear in the US, reported strong revenue growth for the Speedo brand, including a 40 percent increase in China and the company was appointed as the global footwear license partner for Karen Millen.
Picture:Pentland Brands website