JD Sports has offered a glimmer of hope to the high street with a 71 per cent rise in first-half profits.
The sportswear retailer said pre-tax profits for the first six months jumped 71 per cent to £9.1 million, while like-for-like sales increased by six per cent.
Peter Cowgill, executive chairman, said: "Trading has been very positive with improved like for like sales and gross margin generating a significant increase in profit before tax and exceptional items.
"We continue to invest in our store portfolio, systems and training to provide a solid platform for future growth."
However, he added sales for the year will be measured against very strong comparatives from last year and with the backdrop of challenging conditions for the consumer, suggesting second half sales growth may not be as high.
"Nevertheless, the board believes that the group is strongly positioned to deliver on market expectations," Mr Cowgill added.
The company has been overhauling its stores and closing underperforming sites over the period.
The Bury-based company said it is pleased with progress and has seen an improvement in the performance of its fashion fascia, Banks.
The board has decided to pay an interim dividend of 3.10p per ordinary share, a 24 per cent rise from last year.
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