BURY-based sportswear and fashion retail giant John David (JD) Group has seen its profits slump 80 per cent in the wake of what its chairman describes as a "very difficult" year.

JD Group, which operates the UK-wide JD Sports chain, has announced its pre-tax profits for the year to January 31 fell sharply to £2.1 million compared to a buoyant £10.78 million the previous year.

The company, which transferred its headquarters to Castlebrook Business Park in Hollins Brook Way in 2002, has 306 sports and 51 fashion stores throughout the country. In 2002, JD Group acquired First Sport and its 209 retail outlets are being integrated to trade under the JD Sports banner.

Despite the profits gloom, there is more optimistic news for the firm. During the 13 weeks to May 1, Group like-for-like sales have been up 0.9 per cent while its core sports business has risen by 2.5 per cent.

Chairman Mr Peter Cowgill said: "The year ended January 31 proved to be very difficult for the Group.

"The results for the last year were adversely impacted by continuing First Sports integration problems. The integration process is well advanced."

Mr Cowgill said the Group's JD Sports arm continues to be recognised as a style leader by its target teenage market. But he added that the company's fashion business continues to disappoint. But the Group is addressing "key issues in this area".

Around 8,500 staff work in the Group's stores nationwide and around 150 at its Bury base.