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Sports Direct reiterates EBITDA target

Sports Direct scored group sales of £280 million and gross profit of £126m for the 11 weeks to January 13.

The company reiterated that it expected underlying EBITDA for the year to exceed market expectations. Underlying EBITDA stood at £137.7m at the time of its interim results on December 19.

Chief executive Dave Forsey warned: “We expect the retail trading environment in the UK to become increasingly difficult over the next six months. However the resilience of our business gives us the confidence to repeat the guidance on full year performance that we gave on December 19 2007.”

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