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Profits plunge at Mike Ashley’s investment company

Profits at Mash Holdings, Mike Ashley’s personal investment company tumbled by 64% compared with the previous year, to £102.5m for the year to 30 April 2017.

Mash Holdings controls Ashley’s majority stake in Sports Direct, as well as other investment – including the ownership of Newcastle United football club.

The drop in profits was partly driven by falling sales at Sports Direct during 2017 – underlying profits dropped by 60% during the year. 

Ashley faced a potential fine from Companies House ahead of the release of the Mash Holdings figures – having failed to file accounts by the deadline of 23 July 2018.

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