Home / Knowledge / News / Apparel/Garments / Sports Direct achieves record revenues in FY'12
Sports Direct achieves record revenues in FY'12
20
Jul '12
Sports Direct International plc reports Preliminary Results of the Financial Year ended 29th April 2012. (53 week). 

Key highlights

  • 52 week Group Revenue up 13.0% to £1,807m with growth across all divisions against tough comparatives
  • Strong growth in online sales of 82% - now representing 11.6% of total Sports Retail sales (2011: 7.0%)
  • 52 week underlying Group EBITDA excluding Premium Lifestyle: £244m (2011: £211m), including Premium Lifestyle: £236m
  • First target for the 2011 Employee Bonus Share Scheme met
  • Underlying free cash generation of £192m
  • Further reduction in level of debt - Net debt / EBITDA ratio of 0.68 times
  • Creation of Premium Lifestyle division
  • No final dividend

Dave Forsey, Chief Executive, said: "Our position as the consumers' champion, offering an unrivalled depth and breadth of product choice at the best available prices, delivered a record Sports Retail performance.  We achieved record revenues and growth across all divisions.

"Our colleagues have worked hard during the year and, as a result, we have exceeded the first underlying EBITDA target of £215m (before the charge for the bonus share scheme) and the "super stretch" target of £225m.  Also, those staff eligible for the 2009 Bonus Share Scheme will be receiving their first share awards in August 2012, with the remainder of their shares vesting in August 2013.

"Trading since the period end has remained in line with management's expectations where increased investment in margin has been funded by stronger retail sales.  In spite of the low expectations surrounding England's participation in Euro 2012 and the unseasonal weather our core divisions are performing well. 

“Excitement is building towards the Olympics and we continue to target our 2013 "super stretch" underlying EBITDA objective of £270m (before the charge for the bonus share schemes).  We are very excited about the London Olympics that begin next week and we wish all Great British athletes the very best of luck."

Sports Direct International plc


Must ReadView All

Textiles | On 20th Aug 2017

PetroVietnam, Vinatex discuss reviving PVTEX plant

Discussions are under way between PetroVietnam and textile and...

Courtesy: Mexx

Fashion | On 20th Aug 2017

RNF acquires Mexx fashion brand

RNF, the Dutch sports and fashion holding, has purchased the global...

Textiles | On 20th Aug 2017

Intertextile Shanghai Home Textiles opens on August 23

Intertextile Shanghai Home Textiles, Asia’s leading platform to meet...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search