Frasers Group has posted £5.44bn revenues for the 53 weeks to 30th April 2023, attributing growth from the prior year’s £4.81bn to acquisitions as well as the additional week in the period. Pre-tax profits were up to £660.7m from £335.6m generated by the retailer last year.
“In my first full year as chief executive, we have delivered a strong performance across the group,” said CEO Michael Murray. “We were bold in setting our full-year guidance 12 months ago, before the full impact of the cost of living crisis was clear, but our business has remained resilient, and we have met these expectations.
“The Elevation Strategy is continuing to drive results across every segment, and I want to thank the entire company for all their hard work in delivering our vision for Frasers Group. It has been a particularly significant year for sports retail, demonstrating that elevating Sports Direct was the right strategy.
“Our investment in the store estate, our focus on strengthening key brand partnerships, and the synergies created by strategic acquisitions is now delivering very clear results. We’ve also made huge progress in the year building our sector-leading ecosystem, with Frasers Plus now successfully launched across our brands and businesses.
“We enter the new financial year in a strong position and are determined to unlock further growth, underpinned by our laser focus and acceleration of our Elevation Strategy.”
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