Sports Direct ahead of expectations on profit before tax, conference will be told

Retailer Sports Direct to host event for 900 staff and partners, updating them on the company's current and future performance

Sports Direct
Sports Direct

Sports Direct International plc, which is soon due to announce its 2014/15 annual results, says its performance has been ahead of expectations when it comes to underlying profit before tax and earnings per share.

In a notice posted on the London Stock Exchange ahead of its annual conference, the sports clothing retailer, founded by Newcastle United owner Mike Ashley, said this was primarily the result of the company’s “continued and prudent depreciation policy and lower interest charges”.

Net debt at April 26, 2015, meanwhile, was around £60m - compared to £212m at April 27, 2014 - while underlying EBITDA of £380m has been achieved.

The Sports Direct annual conference will be attended by 900 of the company’s employees and partners from all of its major third party suppliers, who will be given updates relating to both current and future performance.

The Sports Direct management team will also offer a series of presentations covering the company’s continued investment in its large format UK city centre stores and its ten Austrian megastores.

Further information will likewise be given on plans for combined gym and sports retail stores, following the launch of the concept last year at Aintree.

Sports Direct will announce its preliminary results for the year ended April 26, 2015, on July 16, 2015.

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