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

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search