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Sportswear firm JD Sports posts record 2016 profit
April 11, 2017 / 6:45 AM / in 6 months

Sportswear firm JD Sports posts record 2016 profit

April 11 (Reuters) - Britain’s JD Sports Fashion Plc posted a 55 percent rise in full-year headline pretax profit as demand for leisurewear products remained firm.

JD Sports, which alongside its core sports retail business runs fashion and outdoor retail outlets such as Scotts and Blacks, said headline profit before tax and exceptional items rose to a record 244.8 million pounds ($304 million) from 157.1 million a year earlier.

Like-for-like store sales at its core sports fashion business rose 10 percent but the company said it was “unreasonable” to expect like-for-like sales growth to be maintained at this level.

The company, which rivals Mike Ashley-owned Sports Direct in Britain, warned that external influences, such as inflationary pressures arising from Brexit, may impact trading in the latter part of the year.

$1 = 0.8052 pounds Reporting by Rahul B in Bengaluru; editing by Jason Neely

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