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LONDON, United Kingdom — Britain's JD Sports Fashion Plc on Tuesday reported an over 25 percent jump in full-year headline pretax profit as demand for athletic and leisurewear clothing remained firm in an otherwise gloomy British clothing sector.
Shares of the company surged as much as 7.9 percent and were the top gainers on the FTSE 250 index.
JD Sports, which alongside its core sports retail business runs fashion and outdoor retail outlets such as Scotts and Blacks, said profit before tax and exceptional items rose to 307.4 million pounds ($441 million) in the 53 weeks to Feb. 3.
Core operating profit at its sports fashion business, which trades through brands such as Chausport, Sprinter and size?, rose 22 percent to 300 million pounds.
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Revenue rose 33 percent to 3.16 billion pounds and the company opened another nine stores in the Asia Pacific region in the year, it said.
JD Sports has been a British retail sector success story in recent years, overtaking billionaire Mike Ashley's Sports Direct as Britain's leading sportswear retailer by market value.
The jump in JD Sports's profit and revenue is in contrast to other British clothing retailers such as Debenhams and Moss Bros, which have cited pressures in the broader retail sector in the UK for weak sales.
JD Sports also struck deals last year, including a $558 million purchase of Finish Line, to tap into the lucrative U.S. sportswear market and to expand into the South Korean market.
By Rahul B in Bengaluru; editors: Amrutha Gayathri.
