JD cautious despite profits boost

RETAILER JD Sports Fashion today boasted a 26 per cent rise in annual profits as it sailed clear of recession - but warned of "increasing challenges" ahead.
By The Newsroom
Published 14th Apr 2010, 10:17 BST

JD said pre-tax profits before exceptional items increased to 67.4m in the year to January 30, up from 53.6m last year.

The firm said it had proved resilient "in the face of less than favourable economic conditions and exchange rates".

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Like-for-like sales, which were 2.5per cent higher last year, have slowed to two per cent in the 10 weeks to April 10, but the firm said margins in its fashion business had improved.

"We recognise the increasing challenges of strong comparatives and the current economic and fiscal threats to consumers' expenditure," the company said.