Sports Direct has posted a year of falling profits despite achieving modest growth in its overall group revenues for the year to 29th April. The retailer had lost £85 million on its investment in Debenhams and the previous year’s results had included profit from the sale of Sports Direct’s Dunlop business as well as the sale of its shareholding in JD Sports.
UK sales had fallen by 2 per cent and there was also a small drop in European sales but the rest of the world proved to be more resilient resulting in growth of 3.5 per cent in overall group revenues to £3.4bn.
Share