Sports Direct owner Frasers Group has seen its full year revenue increase by 30.9% as it makes a strong recovery post-Covid.
In the 52 weeks to 24 April, UK sports retail revenue climbed by 31.2%, largely due to a strong performance of reopened stores after the last Covid-19 lockdown.
Meanwhile the company’s premium lifestyle division grew its revenue by 43.6%.
Pre-tax profit growth was also strong, rising to £366.1 million from £8.5 million a year earlier. In addition to healthy sales from stores, this was driven by the opening of new Flannels shops, continued growth in premium online sales and a range of cost efficiencies.
On an adjusted basis, pre-tax profit came in at £344.8 million compared to a loss of £39.9 million a year earlier.
Frasers now expects adjusted pre-tax profit to come in at between £450 million and £500 million for the next financial year.
