News - Midlands
Sports Direct profits up ten-fold
Sports Direct, the Nottinghamshire sports retailer, has reported an annual profit before tax of £119.5m - a ten-fold improvement on its 2009 result. It also revealed that UK retail revenue rose 11 per cent to £1.1bn and international retail turnover was up 17.2 per cent to £119.9m.
David Forsey, chief executive, said he believed the firm was “operationally stronger than ever”.
The firm attributed the sales growth in part to the amount of sports clothing purchased in anticipation of the FIFA World Cup.
Over the year, Sports Direct opened 34 stores and closed six, bringing the total number of UK stories to 387. The firm currently employs approximately 17,000 people worldwide.