Sports Direct’s profits surge 40 per cent

Suzie Neuwirth

BRITISH retailer Sports Direct today unveiled a 40 per cent rise in pre-tax profits to £207.2m, in what chief executive Dave Forsey called a "record-breaking year for the group and for British sport".

The sporting goods vendor posted a 20.9 per cent increase in revenue to £2.19bn.

Online revenue grew by 52.1 per cent, now making up 15 per cent of total sports retail sales.

“I am pleased to report a further year of strong profit growth for Sports Direct,” said Forsey.

“The results for the year have benefited from the UEFA European Championships and the London Olympics, but have been achieved in a retail environment that remains challenging.

“The group has grown consistently, and the resilience and flexibility of our business model continues to allow us to offer an unparalleled product range at the best available prices.”