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JD Sports Fashion - Cash forecast to rise to Â£35m by year end

January 2010

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 rocketed during the month after JD said it expects to significantly exceed current market expectations. It signalled a marginal 2.7% improvement in sales for the cumulative 48 week period for its two core sports and fashion fascias since the last reported 32 week stage. Margins have also been resilient despite a strengthening of competition, although there has been less promotional activity in the industry generally (JD was referring to JJBâ€™s successful fundraising).Separately, JD also said it has sold its entire holding of 65m JJB shares at 25p (below its average in-price of around 28-29p). The disposal raises Â£15m proceeds and is expected to lift its year end net cash to cÂ£35m. Before the news the forecast ...

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