Partner Article

Ashley’s empire boosted

THE retail empire controlled by Newcastle United owner Mike Ashley has reported group revenue of £1.452bn for the year to 25th April, up 6.2% compared to £1.367bn the prior year.

Sports Direct International’s UK retail was up 11.0% to £1.118bn (2009: £1,007bn) while international retail up 17.2% to £119.9m (2009: £102.3m).

Brands division was down 17.4% to £190.5m (2009: £230.5m).

Underlying EBITDA rose 17.3% to £160.4m (2009: £136.8m) and underlying profit before tax was up 49.8% to £102.1m (2009: £68.2m).

Dave Forsey, CEO, said: “The Group performed strongly throughout the year, achieving excellent sales and profit performances ahead of initial expectations 12 months ago. In addition, we have made significant progress in our debt reduction programme.

“I am especially pleased that over 2,000 permanent UK employees will benefit from their contribution to Group success through our meeting the first year’s target for the Employee Bonus Share Scheme introduced last year.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .