Group sales up 21 per cent at Sports Direct

Group sales rose 21.1 per cent to 589.5m pounds in the 13 weeks ended January 27th at FTSE 250-listed sports retailer Sports Direct International.

Gross profit jumped 22.7% to £244.8m over the same time frame.

Sales from the group's Sports Retail business segment for the 13-week period increased 21.2% to £495.8m, while Sports Retail gross profit increased 23.5% to £203.7m.

Sales within the Premium Lifestyle business segment were up 42.4% to £46.7m in the period, with gross profit increasing 35.1% to £20.4m.

The brands division revenue increased by 4.4% to £47.0m and the corresponding gross profit increased by 6.7% to £20.7m.

Dave Forsey, Chief Executive of Sports Direct International, said: "As we highlighted back in December at our interim results, the group's strong performance continued during the third quarter, primarily driven by our Sports Retail division, including online following the successful integration of our new operating platform.

"We are certain of reaching our 2013 full year targeted underlying EBITDA [earnings before interest, tax, depreciation and amortisation] of £270m before the charge for the bonus share schemes."

MF