HIGH street retail chain JD Sports Fashion delivered a robust first-half performance, but stockbrokers have scaled back their full-year profits forecast, on expectations of a slowing trading environment.

JD’s recent cash generating record has fuelled several acquisitions in the volatile retail sector and the group has been linked with a takeover approach for Everton FC’s retail partner, Kitbag.

But the acquisition strategy may be revisited after chairman Peter Cowgill warned that recent additions, rugby brands Canterbury and Kooga, may take some time to bed in alongside online venture getthelabel.com within the new wholesale division, before profits begin to flow.

Sales for the six months to August 1 were 8.4% ahead, at £324m, and pre-tax profits came in 11.1% up, at £10.13m, after allowing for £3.23m of exceptional charges, including £1.8m for leases on properties the group no longer trades from.

The sports division, which includes JD, Size? and 78 Chausport stores in France, which were acquired in May this year, improved operating profits ahead of exceptionals from £16.2m to £17.2m.

Fashion retail, comprising the Bank and Scotts brands, reduced operating losses from £3.3m to £2.7m, and the fledgling wholesale division also recorded a loss.

Mr Cowgill said the online business getthelabel.com could take three years before delivering profits.

He warned full-year results will depend on the critical Christmas and New Year performance, but added: “The board believes that the group is well-positioned to deliver on market expectations.”

Stockbroker Singer Capital Markets described the results as “another credible performance.”

But it forecasts full-year profits of £53.5m, against a market consensus of £54.7m.