The JD Sports Fashion plc Board is proposing to increase the interim dividend per share by 10% to 0.33p (H124: 0.30p) reflecting a one-third/two-thirds split between the interim dividend and the expected final dividend, broadly reflecting the split of profit generated in the year.
Other financial highlights include:
4,506 stores, up 1,189 from the start of the year, reflecting store openings, ongoing disposal of non-core stores and the Hibbett acquisition
Organic sales growth* of 6.4% and LFL growth* of 0.7%
Revenue growth of 5.2% to £5,032.2m, including £61m from 10 days of Hibbett trading
Gross margin of 48.2%, or 48.3% excluding Hibbett, which was down 10bps on the prior period, driven by lower Q2 margin from elevated promotional activity across apparel and online
Operating margin before adjusting items* of 9.0%, or 8.8% excluding Hibbett, which was in line with the prior period; good cost control offsetting future growth investment
Profit before tax and adjusting items* of £405.6m was up 2.0%, up 3.4% on a constant currency basis and flat excluding Hibbett
Profit before tax of £126.3m reflecting mainly non-cash adjusting items including updated Genesis put and call option valuation following the acquisition of Hibbett and the closure of the Derby distribution centre (DC)
Adjusted basic earnings per share* up 4.5%
Continued balance sheet strength; net cash before lease liabilities* of £40.8m, after stores investment and the acquisitions of the ISRG/MIG NCIs and Hibbett
