SPORTS Direct yesterday hit out at shareholders for failing to back a bonus share scheme that would have awarded its founder Mike Ashley a £70m windfall, as it posted a rise in fourth quarter sales.
The sportswear giant’s board was forced to cancel the plan earlier this month after failing to win enough investor support.
“The board was extremely disappointed to withdraw the resolution,” Sports Direct chief executive Dave Forsey said.
“The most disappointing aspect was where large shareholders gave their support only to then vote differently. This outcome is likely to lead to further uncertainty in the future.”
Total sales rose 10.3 per cent to £360m in the nine weeks to 30 March, while gross profit increased by 11.5 per cent to £147m.