SHARES in JJB Sports, the sports retail giant founded by ex-Blackburn Rovers star David Whelan, have soared by more than 10 per cent following an upbeat trading announcement.
The share price started the week at £7.80, but within 24 hours of the sales update they had risen to £8.62.
In a statement issued to the Stock Exchange, JJB Sports said it had made a strong start to the financial year with turnover for the first 18 weeks showing a 12 per cent increase.
The company also said that the all-important figure for gross margin was also slightly up on the 48.3 per cent achieved last year.
"There has been a strong improvement in demand for the company's products compared with the first 18 weeks of last year," said the company.
"While the directors are very encouraged by this positive trend in both turnover and gross margins, it should be borne in mind that two of the most important selling periods, namely 'back to school' and Christmas, are yet to come."
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