By Gordon Deegan
Combined revenues at the firms operating the JD Sports and Champions Sports brands topped €110m last year but profits fell.
Following the purchase by UK firm JD Sports of Champion Sports seven years ago, between them, John David Sports Fashions Ireland and Champion Sports Ireland operate 23 shops in Ireland.
New accounts show that John David Sports Fashions Ireland posted revenues of €95.26m for the 53 weeks to the end of February 3, up 10% on the previous year.
JD Sports operates 19 stores and the accounts show that the firm posted pre-tax profits of €12.66m, down 4% in the year. The directors said the risks increased after the UK 2016 referendum to quit the EU.
“Brexit and its associated risks will remain high on the board’s agenda as the changes to become negotiated become clearer”, they said in the recently signed off accounts.
Numbers employed by the JD Sports firm last year increased from 559 to 631, and staff costs rose from €9.3m to almost €10.2m.
The profit at the company takes account of non-cash depreciation costs of almost €1m and increased leasing costs of €7.34m.
Separate accounts for the Champion Sports firm show that pre-tax profits dropped 10% to €2m, as revenues fell by 3% from €14.3m to €13.9m.
The directors at the company, which operates four stores in Ireland, said it will continue converting the last of its Champion stores to the JD brand.
“Once a store has converted into the JD fascia it will transfer into John David Sports Fashion Ltd,” it said.
Staff numbers at Champion Sports company fell from 105 to 100, while staff costs increased from €1.65m to €1.68m.
The firm’s operating lease rentals came to €1.44m.