Updates

JD Sports Fashion - Shares hit new high of 1598p

November 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.

The shares soared to a new high of 1598p after strong interims, triggering a third round of upgrades this year. Revenues rose 20% to £970m while a positive foreign exchange impact (from its Euro denominated business) and lower mark-downs meant gross margins jumped 0.7% to 48.1%. This, plus operational leverage, saw pretax profit increase 73% to £77.4m with eps rising from 17.6p to 29.8p.Net cash increased from £100m to £231.8m, helped by timing related savings on capital expenditure. A major project to increase capacity at its Kingsway warehouse by extending the mezzanine floors and installing additional automation equipment will cost £18m capex in H2.During the period like-for-like sales grew 10 ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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