Sports Direct sees ‘strong growth’\n<\/p>\n
Sales increase at Sports Direct<\/p>\n
Sports Direct has reported "strong growth" in quarterly sales and profit and said it is looking forward to a boost in trade from this summer’s landmark events.<\/p>\n
Group sales for the nine weeks to 25 March were up 13.2% on the same period a year ago to \u00a3267.6m.<\/p>\n
Gross profit was up 13.5% on the year to \u00a399.8m.<\/p>\n
The results were ahead of expectations, and shares in the retailer rose 3.2% in morning trading.<\/p>\n
Founder – and Newcastle football club owner – Mike Ashley has been granted a "super stretch" shareholder bonus scheme, which gives him eight million shares in 2018 if certain performance criteria are met.<\/p>\n
The firm had previously proposed a bonus of six million shares.<\/p>\n
Sports Direct said it would seek shareholder approval for the bonus.<\/p>\n
"The group has continued to deliver strong growth during February and March, outperforming management’s expectations," said chief executive Dave Forsey.<\/p>\n
"We remain positive about the group’s outlook and are excited about the summer ahead with the Diamond Jubilee, Euro 2012 and the London Olympics."<\/p>\n
source: bbc.co.uk<\/p>\n","protected":false},"excerpt":{"rendered":"
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