Proactive Investors - JD Sports Fashion PLC (LON:JD.) backed full-year guidance as it reported solid growth in sales, a big jump in profit and a more than doubled dividend at the half-year stage.
The sports, fashion and outdoor brands retailer said in the 26 weeks ended 29 July 2023, revenue rose 8.3% to £4.78 billion from £4.42 billion the year before while pre-tax profit jumped 26% to £375.2 million from £298.3 million.
Basic EPS increased 30% to 4.65p from 3.58p while the dividend was bumped 131% higher to 0.13p.
JD said Premium Sports Fashion delivered 15% organic growth, or 9% like-for-like, with further market share gains in key regions while gross margins were robust at 48% and well above pre-pandemic levels.
There was a strong performance from its North America Premium Sports Fashion fascias with organic growth of 15%, like-for-like growth of 9% and EBIT up 12%.
The firm said it was on track to add over 200 new JD stores globally by January 2024.
Trading in the first seven weeks of the second half has continued in line with expectations and the group expects full-year profit in line with the current market consensus of £1.04 billion.