JD Sports has posted record profits nearing £1bn for its latest financial year but warned the current economic woes will hold back its future growth.
The Greater Manchester-headquartered retail giant has reported profits before tax and exceptional items of £947.2m for the 12 months to January 29, 2022, up from the £421.3m it achieved during the prior year. The listed group's revenue also jumped from £6.1bn to £8.5bn over the same period.
However JD Sports - which markets itself as the King of Trainers - said its profit growth is expected to be held back in the year to next January, due to pressures of the cost-of-living crisis in the UK and wider economic woes.
