Sports Direct profits boosted by London 2012

Sports Direct has enjoyed a financial boost from London 2012 – the retailer’s half year pre-tax profits jumped 26 per cent to £125 million, as revenue for the six months to October 28 grew 22.5 per cent to £1.09 billion.

Online sales for the period rose 54 per cent and now represent 12.5 per cent of total sports retail sales.

“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,” says chief executive Dave Forsey.

“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 ecommerce divisions.”

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