Record sales for GO Outdoors and Fishing Republic owner
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The owner of two of the UK’s biggest fishing tackle retailers has reported a 15.4% increase in pre-tax profits for the year ended February 1st, 2019 and a 49.2% increase in revenue.
JD Sports Fashion, parent company of GO Outdoors and Fishing Republic, saw sales in its Outdoor sector maintain its double-digit growth before tax despite what the group described as a particularly ‘weather-challenged’ trading period.
GO Outdoors purchased Fishing Republic for £900,000, following the group’s fall into administration in December, in the new year.
Peter Cowgill, Executive Chairman of JD Sports, said: ‘I am very pleased to report that the group continues to make excellent progress with revenue before exceptional items increasing by a further 27%, by more than £100m, to a record £488.4m (2018: £385.2m).
“We firmly believe that the elevated and dynamic multi-brand, multi-channel proposition of the core JD fascia, which enjoys ongoing support of the key international brands, has the necessary agility to continue to exceed customer expectations and prosper in an increasing number of markets.”