JD Sports owner John David Group reported a "disappointing" financial performance yesterday after a major acquisition disrupted business.
Posting results for the 10 months to January 31, the group said that integration of the First Sport chain, which it acquired from Blacks Leisure for £53.2 million last year, was taking longer than expected.
The results come after the group warned in January that it had seen slower-than-expected trading over the key Christmas period.
While direct comparisons are difficult because of a change in its financial year, pre-tax profits fell from £20.1 million in the year to March 31 to £10.8 million in the ten month period.
That was despite a 34 per cent rise in turnover to £370.8 million after the acquisition added 209 new stores to the 166 existing branches, which include stores in Brighton and Eastbourne.
Friday May 2 2003
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