British sportswear retail giant JD Sports has seen its half-yearly revenue surge by 52 per cent to £3.8 billion.
The retailer saw EBITDA stand at £746.4 million for the 26 weeks ended 31 July. Now that’s a jump of 121 per cent from £337 million in 2020.
The operating profit before exceptional items was £471.7 million during the year – a phenomenal jump from £95.4 million.
JD Sports also saw its profit before tax and exceptional items reach £439.5 million, which is much ahead of £61.9 million in 2020 and £158.6 million in 2019.
The UK-based retailer has attributed the same partly to acquisition of American sports retailers DTLR and Shoe Palace, which contributed to JD Sports’ profits of £72.9 million.
Besides, it said that all of its businesses had successfully capitalised on the second round of fiscal stimulus by the US Federal Government.
JD Sports also stated that profit before tax and exceptional items in its UK and Republic of Ireland market rose to £170.8 million, from £52 million in 2020 and £114.9 million in 2019 – owing to robust retention of sales through digital channels.
The retailer is now predicting outturn headline profit before tax for the full year of around £750 million.
Founded in 1981, JD Sports has stores across the UK, Europe, the US, Asia, New Zealand and Australia. It generated £6,110.8 million in 2020.