Web sales underpin strong results for Sports Direct International

Internet sales played an increasing role in driving up revenue at sports clothing retailer Sports Direct International over the six months to October 28th.

Internet sales played an increasing role in driving up revenue at sports clothing retailer Sports Direct International over the six months to October 28th.

In the group's interim results published on Thursday, group revenue rose 22.5% to £1,088.9m with significant growth across all divisions.

Sports online sales rose 54% and now represent 12.5% of total sports retail sales compared to 9.5% in the first half of 2012.

Group underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose 17.2% to £163.2m, up from £139.2m in the first half of 2012.

In addition to opening outlets in four new European countries, the group also acquired the Flannels Group for its Premium Lifestyle division.

Dave Forsey, Chief Executive Officer of Sports Direct International, commented: "The first half has been another record period for Sports Direct with the London 2012 Olympics and Paralympics playing a significant part in the Group's strong results. There is no doubt that Team GB's outstanding performance has helped increase the awareness and popularity of sport across the UK, and that we have maintained our position as the consumers' champion.

"The group continues to deliver growth across its divisions and we have maintained our investment in margin, inventory and extra group marketing, while also investing for future growth, particularly in our International and e-Commerce divisions.

"As stated in October, the board remains confident of reaching our full year targeted underlying EBITDA of £270m before the charge for the Bonus Share Schemes."

MF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
The world’s fund managers are getting very bullish – be careful out there
Stockmarkets

The world’s fund managers are getting very bullish – be careful out there

The latest survey of fund managers shows them to be extremely bullish on all the same things. And that, says John Stepek, means the market is in dange…
21 Jan 2021
Inflation is the easiest way out of this – just don’t expect politicians to admit it
Inflation

Inflation is the easiest way out of this – just don’t expect politicians to admit it

The UK government borrowed £34.1bn in December, a record amount for that month. Britain's debt pile now amounts to 100% of GDP. How are we going to pa…
22 Jan 2021