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JD Sports ups full-year profit forecast

JD Sports Fashion’s pre-tax profits for the current year are likely to be 10% ahead of market expectations of around £110m thanks to strong underlying sales.

In a pre-close trading statement issued today, the business said: “We are pleased to report that the performance in our business has continued to be strong with like for like sales remaining in excess of management forecasts although, as previously reported, we have suffered some loss of margin from the weakness in the euro in JD’s euro denominated business.”

In April, JD announced record results for the year to January 31, 2015. Pre-tax profits rose 18% to £90.5m while revenues were up 25% to £1.5bn. In June it said it had made a strong start to the new financial year, but did not give like-for-like sales figures.

It will announce results for the first half of this year on September 16.

@KirstyMcGregor

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