Sports Direct to hit profit target

Sports Direct said it would meet its target for year profit, with trading still strong after a robust third quarter.

The firm, controlled by Newcastle United soccer club owner Mike Ashley, said total sales for the 13 weeks to January 23 increased 12.1 per cent to £416m.

"Since the end of January, the group's underlying performance has continued to be strong, especially within the UK retail division," chief executive Dave Forsey said today.

"Therefore we shall reach our full year targeted underlying earnings before tax, interest, depreciation and amortisation (EBITDA) of £205m before the charge for the bonus share scheme."

The firm, controlled by Newcastle United soccer club owner Mike Ashley, said total sales for the 13 weeks to January 23 increased 12.1 per cent to £416.