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JD Sports FY Revenues Up 30% On Strong Consumer Demand

JD Sports Fashion Plc (JD.L) reported a 30% growth in FY revenues, reflecting strong consumer demand for JD's multi-channel proposition.

Profit before tax and exceptional items increased by 24% to £438.8 million from £355.2 million reported a year ago. On a consistent accounting basis, the proforma headline profit before tax and exceptional items to 1 February 2020 under IAS 17 'Leases' would have been £465.6 million.

For the fiscal year ended February 2020, the company reported profit attributable to equity holders of the parent of £246.1 million or 25.29p compared to £261.8 million or 26.90p last year.

Revenue for the year increased to £6.11 billion from the previous year's revenue of £4.72 billion, largely due to strong total like for like sales growth in global Sports Fashion fascias of 12% including highly encouraging growth of more than 10% in the core UK and Republic of Ireland Sports Fashion fascias.

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