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Sports Direct confident after strong year

Sports Direct said it was on track to achieve full year underlying EBITDA of at least £160m as sales in the nine weeks to March 28 grew 2.9% to £214m.

The sportswear retailer said sales at its retail division for the final nine weeks of its financial year were ahead 6% at £178m, with retail profit up 9.7% to £68m as a result of the lower US dollar exchange rate.

Sports Direct chief executive Dave Forsey said: “We continue to be pleased with the strong performance of our retail division including the growth of internet trading. We have also made significant progress in the brands division.

“The retail division has seen a robust Easter holiday trading against tough comparators and we look forward to a successful football World Cup on and off the field. The board continues to look to the future with confidence.”

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