JD Sports Posts Rise In H1 Profit, Raises Dividend

JD Sports Fashion PLC reported a strong rise in its pretax profit for the first six months of the year and lifted its interim dividend by 3%. JD Sports posted a pretax profit of 16.5 million pounds ($26.7 million), versus a year-ago profit of GBP6.1 million. However, profit before tax and exceptional items jumped to GBP19.99 million versus GBP9.99 million. Profit attributable to equity holders of the parent surged to 12.61 million pounds, or 6.48 pence a share, versus a year-earlier profit of 4.96 million pounds, or 2.55 pence a share. Its revenue climbed 27% to 721.45 million pounds. JD Sports declared an interim dividend of 1.1500 pence a share, compared to 1.1125 pence per share in the year-ago period. "The Group has delivered record results for the first half with encouraging progress in the principal areas of the business, notably our UK and European Sports fascias," Executive Chairman Peter Cowgill said.