Sports Direct pre-tax profits jump 14%

Mike Ashley’s retail firm Sports Direct has delivered a surge in sales in a strong half year which saw pre-tax profits jump 14%

A Sports Direct outlet
A Sports Direct outlet

Mike Ashley’s retail firm Sports Direct has delivered a surge in sales in a strong half year which saw pre-tax profits jump 14%.

Revenues rose by almost £260m to £1.35bn for the six months to 27 October 2013, and pre-tax profits soared from £125.2m in the same period in 2012, to £143.1m.

In August, 2,000 full-time staff shared a £112m bonus through the group’s incentive scheme dating back to 2009, amounting to a windfall of £76,000 for those earning a salary of £20,000 four years ago.

Dave Forsey, chief executive of Sports Direct International plc, said the business had produced another strong set of results, bouyed by further expansion outside of the UK.

Forsey: “We have delivered another strong performance reflecting our continued focus on providing customers with exceptional quality and unbeatable value – reinforcing our position as the consumer champion.

“The growth in Group revenues and EBITDA has been ahead of expectations and achieved against a tough comparative that included the UEFA European Championships and the London 2012 Olympics.”

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