JD Sports runs ahead of rivals as pre-tax profit surges and sales grow strongly

Sportswear retailer JD Sports delivered another strong set of figures, with annual pre-tax profit and like-for-like sales both registering double-digit growth.

In the year to 30 January, the FTSE 250 group saw pre-tax profit surge 45% year-on-year to £131.6m ($185.9m, €165m), while revenue rose 20% to £1.82bn on the back of a 12% increase in like-for-like store sales.

The figure marked the second consecutive year like-for-like sales growth has exceeded 10% over the financial year.

JD, which will pay a final dividend of 6.20 pence per share, up 5.1% year-on-year, taking its total payout up to 7.40p from 7.05p the year before, said the roll-out of its European business was progressing well as 38 stores were opened in Europe last year.

Meanwhile, the group added it has made encouraging progress on its outdoor clothing operation despite a challenging market.

"Given that last year's result was a record for our group then the performance in the year was very pleasing, further demonstrating the increasing influence of the JD fascia in the UK and beyond," said executive chairman Peter Cowgill.

"We are encouraged by the continued positive trading across our core fascias in the year to date and the board continues to believe that the group is very well positioned for profitable growth," he added.

The tracksuit and trainer retailer has seen shares jump 133% in the past 12 months, partially helped by the developing trend for wearing sports clothing and footwear outside of the gym.