Jan 14, 2022
Investors’ Chronicle: JD Sports, Knights, Games Workshop
JD Sports Fashion said profit for the year will come in ahead of market expectations after enjoying an upbeat end to 2021. Looking ahead to next year, JD Sports expects profits to be in line with the current year, despite facing a number of headwinds including a shortage of stock on offer from some brands. In the first half of financial year 2022, underlying profit before tax rose by 26 per cent to £7.6m. Meanwhile, Knights moved from a statutory loss of £1.1m to a profit of £800,000, suggesting it is in a stronger position to fund its buying spree. For years, investors have expected interest rates to rise and been consistently surprised by them not doing so - until the past few months. One interpretation of this is that, given the market's forecast of a one-year yield of 0.9 per cent in December, there's a two-thirds chance of yields being between 0.5 and 1.3 per cent; a one-in-six chance of yields being under 0.5 per cent; and a one-in-six chance of them being over 1.3 per cent.
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