DCSIMG

Olympics help Sports Direct to record profit

  • by GRAEME EVANS
 

MIKE Ashley’s sportswear empire jumped to a record profit today after enjoying a “significant” sales boost from the London Olympics and Paralympics.

Sports Direct International, which is majority owned by Newcastle United backer Ashley, said half-year revenues were up 22.5 per cent to just over £1 billion amid strong growth in its 398 UK shops and branded sportswear division.

Pre-tax profits rose by a quarter to £125.2 million in the six months to 28 October, with the UK’s sporting summer playing a major role in boosting demand. The results came in a period when rival JJB Sports conceded defeat in its battle for survival. Sports Direct bought 20 stores from JJB’s administrators.

The group is currently looking to resurrect a bonus scheme that could trigger a multi-

million pound bonus for Ashley.

 

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