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Sports Direct set to deliver £270m EBITDA as profits climb

Sports Direct is certain of delivering £270m EBITDA in 2013 after group profits shot up by more than 20% in its last quarter.

Group sales for the 13 weeks to January 27 rose 21.1% to £589.5m while gross profit increased 22.7% to £244.8m.

Sales at its Sports Retail arm grew by 21.2% to £495.8m, as gross profit increased 23.5% to £203.7m. Meanwhile sales across its Premium Lifestyle division rose 42.4% to £46.7m and gross profits shot up by 35.1% to £20.4m.

The Brands division revenue increased by 4.4% to £47.0m, while the gross profit increased by 6.7% to £20.7m.

Chief executive Dave Forsey said: “As we highlighted back in December at our interim results, the Group’s strong performance continued during Q3, primarily driven by our Sports Retail division, including online following the successful integration of our new operating platform.”

He added: “We are certain of reaching our 2013 full year targeted underlying EBITDA of £270m (before the charge for the bonus share schemes).”

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