LONDON, Nov 16 (Reuters) - British fashion group French Connection (FCCN.L) forecast year profit at the high end of current market expectations after its wholesale business showed an improved performance in its latest trading period. The firm said on Tuesday the business as a whole had performed in line with internal expectations in the 15 weeks to Nov. 13, its fiscal third quarter.

FrenchConnection.com

It said slightly lower than expected retail revenue was more than offset by growth in wholesale revenue, gains in gross margin and overhead savings.

Prior to Tuesday's update analysts were forecasting a year to end-Jan. 2011 consensus pretax profit of 3.8 million pounds ($6.1 million), according to Thomson Reuters I/B/E/S.

French Connection said UK/Europe retail sales fell 7.7 percent over the 15 weeks, while wholesale revenue increased 13 percent.

North America same store sales fell 4 percent, while wholesale revenue was flat.

The firm ended the period with 20.2 million pounds of net cash.

Shares in French Connection were unchanged at 53 pence at 0835 GMT, valuing the business at 51 million pounds.

Separately on Tuesday, British clothing and footwear retailer JD Sports Fashion (JD.L) posted a slight improvement in trading since it last reported in September but said it was cautious about Christmas trading.

Its shares were up 1.7 percent at 805 pence, valuing the business at 394 million pounds. (Reporting by James Davey, editing by Mark Potter)