Sports Direct profit rises as staff pocket a £40k bonus

SPORTS Direct yesterday reported a surge in full-year profit figures yesterday, triggering a bonus pot for staff.

The retailer posted a 25 per cent rise in underlying profit for the year to 24 April – making £200.4m.

The firm, controlled by Newcastle United owner Mike Ashley, grew like-for-like retail sales by 6.6 per cent while revenues surged by 10.2 per cent.

More than 2,000 staff will receive an average bonus pot of £40,000 because of the company’s resilient performance. Sports Direct, which owns Sports World and Lillywhites stores as well as brands including Slazenger, Lonsdale and Dunlop, has gained market share as a result of problems at rival JJB Sports. Chief executive Dave Forsey said: “This has been an excellent year of growth for the group in what has been a challenging retail environment.

“Key to this growth has been the success of our employee bonus share scheme.”

He said the company is confident of reaching profit targets of £215m for the current financial year.