Sports Direct revenue grows by 14% in the first half
The British sportwear company has reached a revenue of 2 billion pounds (2.7 billion dollars). About 60% of its sales came from retail stores in the United Kingdom.
Sports Direct ends the first half on the rise. The British sportwear company has ended the first six months of its fiscal year 2019 with a revenue of 2 billion pounds (2.7 billion dollars), up 14% year-on-year. Its net profit stood at 65.4 million pounds (87 million dollars).
“The first half has shown impressive results across the group with the elevation strategy proving to remain the right plan for the group’s growth and future,” stated David Daly, chairman of the company. “We are starting to see the green shoots of recovery as we continue to integrate the business into the group; we are bringing new disciplines, experience and skills to bear which is helping the turnaround.”
Retail sales in the United Kingdom account for 60% of the group’s revenue and stood at 1.2 billion pounds (1.6 billion dollars). In Europe, Sports Direct has 523 stores, double compared year-on-year due to the integration of House of Fraser, which revenue stood at 365.5 million pounds (486.7 million dollars), up 16.7%.
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