Retail company, Rebel Sport, has reported a consolidated operating profit before abnormal items and income tax of $4,771,000 for the financial year ended March 31.

Operating profit was $208,000.

Sales revenue grew by 12 per cent to $217,478,000 but the company said the result has been adversely impacted by abnormal items of $2,781,000 before income tax.

It says these include write-downs, the loss in investment in as a result of the sale to Harris Scarfe Holdings and GST implementation costs.

Chairman, A W Whatmore said: "While the overall group result is extremely disappointing, we feel that with further consolidation occurring in the sporting goods industry, Rebel Sport will continue to gain market share."

The retailer urged shareholders to accept a $52m takeover offer for the company from Harvey Norman.

Rebel Sport has revealed that shareholders voted unanimously in favour of the issue of options to Messrs Ian Dresner and Hilton Seskin.