Profits at JJB Sports have slumped, with the group blaming a lack of major football tournaments for the drop.

The sporting goods retailer said pre-tax profits for the six months to 29 July sank 38.3% to £11.2m.

In a bid to turn around its fortunes and cut its reliance on big sporting events JJB said it would strive to become the "sports retailer of choice".

As part of the shake-up it will revamp stores, launch more own-brand goods and increase its health club offering.

"Although we expected a fall in profits with no major football tournament this year, these results are still disappointing," said chairman Roger Lane-Smith.

Earlier this month, JJB had warned that falling revenues and sales – PARTICULARLY REPLICA KIT SALES - would affect its earnings!

Well at least it didn’t have to pay out extra money to Rangers as obviously they didn’t exceed the bonus targets of the landmark "sell out your merchandise" deal!

Hee Hee It would appear that the deal that saw the Scottish midgets "earn a minimum of £18M over ten years" will yeild exactly that, 1.8M a year whilst other teams in Scotland earn 5M a year before a shirt is sold!

Still you know best.

Yours in Celtic

Clydebuilt