LONDON (Bloomberg) — JD Sports Fashion Plc, the UK's second-largest sportswear chain, said first-half profit rose 16 percent as the retailer's teenage customers continued to buy the latest designs of sneakers and training gear.

Net income climbed to £6.98 million ($11.4 million) in the six months through August 1 from £6.01 million a year earlier, the Bury, England-based company said today. Revenue increased 8.4 percent to £324 million, with sales at stores open at least a year gaining 0.7 percent.

JD's younger customers are typically are less affected by a slowdown in the economy. The retailer has doubled the percentage of sales from own-label brands such as Carbrini and McKenzie in the past four to five years, boosting profitability.

Revenue growth will continue at a "similar level" to the first half, Executive Chairman Peter Cowgill said in a phone interview today. Same-store sales rose 0.8 percent in the six weeks since the end of the reporting period, after declining in the previous two months, the company said.

"Overall these figures demonstrate another credible performance in challenging conditions," Matthew McEachran, an analyst at Singer Capital said in a note. He has a "buy" recommendation on the stock.

JD Sports fell 12 pence, or 2 percent, to 588 pence at 10:30 a.m. in London trading after earlier rising to a record high. The stock has more than tripled in value this year.

Chausport SA, the 76-store French chain acquired by JD in May, contributed £9.3 million in the period. Cowgill said the acquisition will be the "gateway" to store openings in larger French towns and cities, as well as adding JD-owned product ranges and imagery in-store. The retailer will "break even" on Chausport this year, he said.