Bonus £34 million pay out for only 10% of workforce at Mike Ashley’s Sports Direct

Newcastle United owner Mike Ashley’s retail firm Sports Direct has reportedly said it is “certain” to achieve targets that will mean a bonus payout worth £34 million next year for 3,000 staff.

The bonus would be worth just over £11,000 per eligible worker, but less than 10% of staff are eligible for the scheme so most of the group’s 28,000 workers will miss out.

Half-year results showed pre-tax profits rose 4.6% to £149.7 million onrevenues up 6.5% to £1.43 billion.

Chief executive Dave Forsey said: “The results for the six months were solid considering the adverse impact on performance during the period of England’s early departure from the FIFA World Cup in Brazil and the unseasonably mild weather during autumn reducing footfall.

“However, the continued growth in group revenues and EBITDA is testament to the hard work of our colleagues and our continued focus on providing customers with exceptional quality and unbeatable value.”

The retailer has also opened four concessions in Debenhams after buying a stake in the department store.

Image CopyrightBetty Longbottom and licensed for reuse under Creative Commons Licence