JD Sports fashion annual profit down, but revenue increases

JD Sports Fashion PLC (JD.L), a retailer of sports, fashion and outdoor brands, Wednesday reported profit before tax of 715 million pounds for the full year, lower than 811 million pounds in the previous year.

Excluding one-time items, adjusted profit before tax decreased to 923 million pounds from 966 million pounds last year.

Operating profit was 903 million pounds, down from last year's 927 million pounds.

Adjusted operating profit increased to 1.049 billion pounds from 1.029 billion pounds a year ago.

Net profit decreased to 490 million pounds or 9.50 pounds per share from 539 million pounds or 10.45 pounds per share last year. Adjusted basic EPS was 12.39, down from 12.81 pounds.

Revenue for the year grew 8.7 percent to 11.458 billion pounds from 10.542 billion pounds in the prior year.

The company has proposed a final dividend of 0.67 pounds per share.

Additionally, the company started to buy back up to 100 million pounds of shares, to be completed by July 31.(DPA)