Sports Direct has achieved “record revenues” as pre-profits for the year rose nearly 25 per cent.
Driven by an 82 per cent increase in online sales, the Mike Ashley owned retailer made pre-tax profits of £151.5 million for year ending April 29.
Group revenue rose 13 per cent to £1.8 billion.
“Our position as the consumers’ champion, offering an unrivalled depth and breadth of product choice at the best available prices, delivered a record sports retail performance,” says chief executive Dave Forsey.
“We achieved record revenues and growth across all divisions.”
“Trading since the period end has remained in line with management’s expectations, where increased investment in margin has been funded by stronger retail sales.
“In spite of the low expectations surrounding England’s participation in Euro 2012 and the unseasonal weather, our core divisions are performing well.”
Non-executive chairman Keith Hellawell said Sports Direct’s employee bonus share scheme has been a great motivator across the group.
2,000 of the company’s 18,000 staff eligible for the 2009 scheme will receive their first share awards in August, with the remainder of their shares vesting in August 2013.
Sports Direct recently announced the construction of an additional one million square feet of warehousing at its Shirebrook headquarters to cater for the increased demand in its online business.
