JD Sports reports 25 percent increase in annual revenues

JD Sports Fashion, announcing its preliminary results for the 52 weeks ended January 31, 2015 said that total revenue increased by 25 percent to 1,522.3 million pounds (2,248.4 million dollars). Like for like sales for the 52 week period across all continuing group fascias, including those in Europe, increased by 12 percent.

“I am delighted to report that our continuing operations have delivered a record result for the year with a headline profit before tax and exceptional items in excess of 100 million pounds (147.7 million dollars) for the first time. This result and its ingredients provide a robust platform for further profitable growth, at home and internationally,” said Peter Cowgill, Executive Chairman of JD Sports Fashion.

Total gross margin in the year of 48.6 percent was broadly consistent with the prior year with a small increase in the margin in sports fashion to 49.5 percent offset by a reduction in the margin in outdoor to 41.3 percent, reflecting the inclusion of a full year of the lower margin Tiso and ActivInstinct businesses and the impact from heavier discounting in the final quarter of the year. Operating profits and results operating profit (before exceptional items) increased substantially by 19.2 million pounds (28.3 million dollars) to 102.2 million pounds (150.9 million dollars) with an exceptional performance in sports fashion and a reduction in the losses in outdoor.

The board proposes paying a final dividend of 5.90p (2014: 5.6625p) bringing the total dividend payable for the year to 7.05p per ordinary share, an increase of 4 percent. The adjusted earnings per ordinary share before exceptional items have increased by 26 percent and the basic earnings per ordinary share have increased by 21 percent.