Frasers Group has posted a strong uplift in half year sales and profit after trade was boosted by range of acquisitions and buoyant sales at Flannels.
In the six months to 23 October, the owner of retail brands such as Sports Direct, House of Fraser and Flannels saw its revenue climb by 12.7% to £2.64 billion.
Meanwhile pre-tax profit rose by 53% to £284.6 million as adjusted pre-tax profit increased to £267.1 million from a prior £192.4 million.
The group’s UK sports retail revenue grew by 11.6%, largely due to the acquisition of Studio Retail. In addition, sales in Frasers’ premium lifestyle business rose by 24.7% as a result of new Flannels stores and continued growth online.
Looking at its international business, Frasers said retail revenue climbed by 5.8%, mainly due to the acquisition of Sportmaster in May and an increase in its Malaysian business. This was offset by the reduction in revenue following the disposal of its US retail businesses in the six-month period.
The group has been an an acquisition trail in recent months. In addition to Sportmaster and Studio Retail, this has included the purchase of Missguided, I Saw it First and Mysale. Since the end of the half year, the company has also acquired Gieves & Hawkes and Amara and it now holds hold interests of up to around 34% in Hugo Boss.
