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JD Sports announces an interim dividend of 0.28p, a 3.7% increase

Investment Tools Ltd.
JD  Sports announces an interim dividend of 0.28p, a 3.7% increase

The JD Sports Board has proposed paying an interim dividend of 0.28p (2018: 0.27p) per ordinary share, an increase of 3.7%. This dividend will be paid on 3 January 2020 to shareholders on the register at 29 November 2019. They continue to believe that it is in the longer term interests of all shareholders to keep dividend growth restrained so as to maximise the available funding for their ongoing growth opportunities.

Other financial hilights include:

Group revenue increased by 47% to £2,721.2 million (2018: £1,846.3 million) with 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 Ireland Sports fascias

Another record result for the half year with Group EBITDA on a comparable accounting basis increased by 37% to £235.2 million (2018: £171.8 million) and profit before tax and exceptional items on a comparable accounting basis increasing by 36% to £166.2 million (2018: £121.9 million)

Reported profit before tax increased by 6.6% to £129.9 million (2018: £121.9 million), after net adjustments of £7.6 million following transition to IFRS 16 'Leases' and exceptional items of £28.7 million

International development of JD continues with:

a) Net increase of 23 JD stores across mainland Europe

b) Net increase of seven JD stores in the Asia Pacific region

c) Six JD stores now trading in the United States with the physical stores now complemented by a trading website

Encouraging performance from the Finish Line fascia in the United States with operating profit before exceptional items on a comparable accounting basis of £34.7 million (2018: £4.8 million for the seven weeks post acquisition) with like for like sales growth for the proforma 26 week period across the combined Finish Line branded stores and website of 5%

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