Sports Direct International increases revenue
14/12/2018
Revenue for the six-month period rose by 4.5% to reach just less than £1.8 billion. Its earnings before deductions fell by 4.7% to £148.8 million, compared to the first six months of the group’s previous financial year.
In its home market, the UK, revenue from its sports retail operation fell by 0.2% to reach a little over £1.1 billion. The group said the main reasons for the small decline were store closures and “the continued elevation of the portfolio”. In the rest of Europe, its sports retail revenue was down by 5% to £313.1 million, again because of store closures.
Outside Europe, however, Sports Direct International increased its revenues by 28.1% compared to the first half of the previous business year, reaching £100.1 million this time. It attributed this growth to the performance of its sports and outdoor retail portfolio in the US in particular, comprising Bob’s and Eastern Mountain Sports, which Sports Direct International acquired in 2017.
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