JD Sports sees full year ahead of market expectations

Shares in JD Sports Fashion bobbed higher in afternoon trade after the company said it expects headline profit before tax and exceptional items for the current financial year to exceed consensus market expectations of £125m by £10m.

The sports retailer said relatively strong trading has continued following the “exceptional performance” in the 26-week period to 1 August, which saw like-for-like sales growth across all group fascias, including those in Europe, in excess of 10%.

“Whilst recognising the critical importance of trading through the remainder of December and early January and also the further infrastructure cost increases during the year to support the increasing international development of the business, the board expects that the headline profit before tax and exceptional items for the current financial year is likely to exceed current consensus market expectations.”

The group is due to issue its Christmas trading update on 14 January 2016.

At 1550 GMT, JD shares were up 1.8% to 1,001p.