JD Sports Fashion (LON:JD.) has lifted full-year profits guidance after a continued strong trading performance in recent weeks.
The announcement was released late in the afternoon, which usually is a sign of a company wanting to bury bad news, but in the case of JD Sports it appears the company could not wait to pass on the good news.
Following on from its strong set of half-year results, the sportswear retailer said that the relatively strong trading performance had continued in the second half of the fiscal year, as a result of which profit before tax and exceptional items for the full year is likely to be around £135mln, which is £10mln or so above the current market consensus forecast.
Notwithstanding the above, the company's financial result does not end until 31 January, so there is still a chance that a disastrous Christmas trading period will derail the company's new guidance.
The company also cautioned that it needs to invest further in infrastructure to support the increasing international development of the business.
The shares were up 2.1% at 1,004p in late afternoon trading, and have practically doubled this year.