UK: Sports Direct on track as H1 profit holds steady
- H1 underlying pre-tax profit down 1.7% to GBP99m
- Group revenue up 8.4% to GBP888.6m
- Strong growth for international, online
Retailer Sports Direct today (15 December) said it was on track to hit its full-year earnings target after underlying pre-tax profits held steady in the first half of the fiscal year.
Group revenues were up 8.4% in the six months to 23 October, boosted by 8.2% revenue growth in UK retail. Meanwhile, international revenues surged up 22.3% and online sales soared up 85%, the UK company said.
“This strong performance yet again demonstrates the success of our unique and resilient business model, and was delivered against both a tough FIFA World Cup comparison last year and an especially fragile consumer environment,” said Sports Direct chief executive Dave Forsey, adding that the board remained “very confident” of hitting the company’s full-year EBITDA target.
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