Olympic fuels Sports Direct's Sports Retail sales growth

27 Oct '12

2 min read

Sports Direct International plc provides an update on current trading in advance of its half year end on 28 October 2012.

Group total sales for the nine weeks ending 30 September 2012 were up 18.0% to £402.7m (2012: £341.3m) and gross profit was up 21.7% to £167.4m (2012: £137.6m).

Sports Retail sales for the same period increased 16.8% to £344.7m (2012: £295.1m), and Sports Retail gross profit increased 20.5% to £142.8m (2012: £118.5m).

Premium Lifestyle sales in the period increased 43.0% to £18.3m (2012: £12.8m) with gross profit increasing 18.8% to £7.6m (2012: £6.4m).

Brands division revenue increased 18.9% to £39.7m (2012: £33.4m) with gross profit increasing 33.9% to £17.0m (2012: £12.7m). This includes Firetrap wholesale sales of £7.8m (2012: Nil) and gross profit of £3.3m (2012: Nil).

Dave Forsey, Chief Executive of Sports Direct International plc, said:

"The Group has continued to deliver strong growth through the second quarter, especially within the UK Sports Retail division where sales and margins benefited from the London Olympics and an excellent 'back to school' period.

"Since the end of September trading has remained equally strong and the Board is therefore confident of reaching the full year targeted "super stretch" underlying EBITDA of £270m (before the charge for the bonus share schemes)."

Sports Direct International plc

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