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Sports Direct to strengthen board

Sports Direct is hoping to improve its relationship with the City by bolstering its board.

Sports Direct retail park WEB

Sports Direct retail park WEB

The retailer will this week reveal that it has hired two City figures with a mix of retail and financial backgrounds, sources told the Sunday Telegraph.

Sports Direct has been without a permanent finance chief for three years after Bob Mellors stepped down because of ill-health.

The business is expected to report on Thursday that underlying earnings have tumbled 35% to between £140m and £150m for the six months to the end of October.

However, its profits are expected to have been boosted from its £12.5m sale of shares in rival chain JD Sports. Total sales will rise by around 10% to £1.57bn, analysts predict.

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