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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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JD Sports Fashion - Investec upgrades forecasts by 10%

March 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • JD.
  • Price:
  • 1057p
The shares had surged to a new high of 1160p  (before coming off with the market) after JD announced that Christmas trading has remained very positive with like-for-like sales in all core sports fashion fascias including those in Europe increasing 10.6% in the five weeks to 2 January. Given the continued strength it expects pretax profit before exceptional items to exceed market expectations of £136m by up to 10%.There will be an exceptional charge of £12m to write off a project to replace its core IT systems as management have decided to use its internally developed systems, which have more flexibility and lower costs, instead.Investec have upgraded eps by 10% to 58.1p for year-end Jan ’16 and to 63.5p ...

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