 JJB's sales got a World Cup boost, but not its profits |
A World Cup sales lift has failed to translate into increased half-year profits at JJB Sports, because of tough price pressure on the High Street. The sportswear retailer saw revenues rise 12% in the six months to 30 July, compared to the same period in 2005.
Yet pre-tax profits came in broadly flat at �18.2m, compared to �18.1m for the same time last year.
Revenues from football kit sales during the World Cup were �14.1m higher than in the same weeks a year earlier.
"Although we are encouraged by the revenue improvement and the marginal increase in pre-tax profit, difficult trading conditions continue to challenge the margin," said JJB Sports chairman Roger Lane-Smith.
"This is most evident in the sale of replica kits where the World Cup boosted sales, but these sales were subject to intense competition on pricing."
One-Minute World News 
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