JD Sports fashion increases its 2014 full year dividend by 4.1%

DividendMax Ltd.

JD Sports fashion increases its 2014 full year dividend by 4.1%

Group Highlights

Record result with profit before tax and exceptional items in the continuing businesses of £100.0 million (2014: 82.0 million).

Exceptional performance in Sports Fashion with like for like store sales growth across the combined European fascias of 13% and operating profits increased by 18% to £107.0 million (2014: £91.0 million).

Encouraging progress in the development of the international Sports Fashion offering with new stores added in all existing territories.

Comparable with the wider sector, Outdoor had a difficult second half following the very mild autumn and winter. Sector wide promotional activity continues as the resulting imbalance of stocks in the trade is addressed.

Investment levels remain high in Sports Fashion with total capital expenditure of £70.2 million (2014: £48.2 million). This is expected to increase further in the new financial year as the overseas rollout of JD continues.

Final dividend payable increased by 4.2% to 5.90p (2014: 5.6625p) bringing the total dividends payable for the year to 7.05p (2014: 6.7750p) per ordinary share, an increase of 4.1%.

Peter Cowgill, Executive Chairman, said:

"I am delighted to report that our continuing operations have delivered a record result for the year with a headline profit before tax and exceptional items in excess of £100 million for the first time. This result and its ingredients provide a robust platform for further profitable growth, at home and internationally.

"This result has been driven by an outstanding performance in our Sports Fashion fascias where JD's unique and often exclusive sports and fashion premium brand offer continues to enthuse and excite both customers and suppliers. This, combined with our market leading standards of visual merchandising and disciplines instore, provides the basis for international success.

"The Board continues to believe that the Group is well positioned to exploit successfully the opportunities that exist for continued profitable growth."

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