Leading UK sports retailer JD Sports shows strong growth following a rise in profits.

JD Sports group, one of the leading UK sports retailers, has announced a rise in profits in the year to 31 January 2009.

The Bury-based sports company announced a group profit before tax and exceptional items of £53.6 million, compared to £43.4m in 2008 – a rise of 24%. The ‘exceptional items’ include an investment into struggling sports retailer JJB Sports.

The announcement offers some hope for retailers following grim news from Next, John Lewis and Marks and Spencer of a fall in profits for 2008.

As well as being a leading sports retailer, the group also has a vested interest in high street fashion following the acquisition of Scotts, Bank and Deakin fashion brands in 2004, 2007 and 2008 respectively. However it is the performance of the sports fascias’ which has provided the strongest results.

The nine weeks to 4 April 2009 has also shown an encouraging start with like-for-like sales up 0.3%, despite the figures for 2008 including the entire Easter trading period.

Executive Chairman Peter Cowgill commented that 2008 had seen: “the fifth successive year of good progress in revenue and profitability.

“The sports fascias’ strong performance in recent years with regards to like-for-like sales and gross margins means that further improvement in these areas is increasingly challenging. The Board remains focused on continuing to deliver operational and financial progress for the Group.”