Sports Direct share price: Company posts 9.8% rise in underlying pre-tax profit

on Dec 11, 2014
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iNVEZZ.com, Thursday, December 11: Sports Direct (LON:SPD) today released its interim results for the 26 weeks to 26 October 2014.

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Dave Forsey, Chief Executive of Sports Direct 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. We are delighted that their contribution will again be recognised under the 2011 Employee Bonus Share Scheme – 25% of which is expected to vest with eligible employees in September 2015.

“Trading since the period end has been in line with management expectations and while we retain the ability to invest in margin, inventory and Group marketing to deliver long-term sustainable growth, we remain confident of achieving at least our full year internal underlying EBITDA target of £360m, before the charge for the Employee Bonus Share Schemes.”

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