16th Jul 2015 06:16
LONDON (Alliance News) - Sports Direct International PLC on Thursday reported growth in profit in its recently ended financial year, boosted by a rise in revenue as it extends its portfolio across the UK and Europe.
The sporting goods retailer reported a 31% rise in pretax profit in the year ended April 26 to GBP313.4 million from GBP239.5 million the year before, as revenue grew 4.7% to GBP2.8 billion from GBP2.7 billion. It said revenue and profit growth was driven by continued expansion in the UK and across Europe.
"Trading since the period end has been in line with management expectations and will continue to be driven by improvements in product range and availability, optimisation of both our in-store and web offerings, the introduction of Click and Collect in the UK and further investment in our store portfolio," Chief Executive Dave Forsey said in a statement.
Sports Direct will not pay a dividend for the year. "The board remains of the opinion that it is in the best interests of the group and its shareholders to preserve financial flexibility, facilitating the pursuit of potential acquisitions and other growth opportunities. The payment of dividends remains under review in future years," the company said.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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