Member Article

Ashley’s empire jumps 3%

ALTHOUGH Mike Ashley’s management decisions at Newcastle United often baffle many football fans, his investors have good reason to be delighted after the company’s latest figures were released.

Sports Direct half year figures showed an 8.3% rise in revenues to £819m, while pre-tax profits jumped 40% to £100.7m, helped by the summer’s World Cup and struggling rival JJB Sports.

Chief executive Dave Forsey told the Guardian that despite anticipating a tough start to the new year, he was confident Sports Direct would reach its full year target of underlying earnings of £205m.

This would reportedly trigger bonus share awards to staff under a scheme introduced last year.

The news has lifted the company’s shares 4.5p to 150.5p, continuing their recent upward trend.

This was posted in Bdaily's Members' News section by Ruth Mitchell .