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JD raises full year profit forecast

JD Sports Fashion has announced that full year profits are likely to exceed market expectations by £10m following a period of strong trading.

The retailer said profit before tax and exceptional items for the current financial year will be 8% more than forecast, reaching £135m.

The group said trading had been “relatively strong” over the last two months and profits will rise, despite further infrastructure cost increases during the year to support the growing international business.

In the group’s interim results on September 16, JD reported there had been an “exceptional performance” for the 26-week period to August 1, with like-for-like sales across all fascias in the UK and Europe up 10%.

JD will issue its post-Christmas trading update on January 14 2016.

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