Pre-close Trading Update

RNS Number : 5821K

Sports Direct International Plc

22 April 2010

 



22 April 2010

Sports Direct International plc

Pre-close Trading Update

Sports Direct International plc ("the Group" or "the Company") today provides an update on current trading in advance of its year end on 25 April 2010.

Group total sales for the 9 weeks ending 28 March 2010 were up 2.9% to £214m (2009: £208m) and gross profit was up 7.9% to £82m (2009: £76m).

Retail division sales for the same period increased 6.0% to £178m (2009: £168m), and retail gross profit increased 9.7% to £68m (2009: £62m) as a result of the lower US dollar exchange rate.

At the Preliminary Results announced in July 2009, the Board expected to make EBITDA of £140m, after the charge for the employee bonus share scheme.  At the Interim Results in December 2009 this figure was upgraded to £155m and in the Interim Management Statement on 11 February 2010, the Board confirmed that it expected to achieve full year underlying EBITDA of at least £160m.  Based on current trading, the Board remains confident of achieving this.

The Company will announce its Preliminary Results for the year ending 25 April 2010 on Thursday 22 July 2010.

Dave Forsey, Chief Executive of Sports Direct International plc, said:

"We continue to be pleased with the strong performance of our retail division including the growth of internet trading.  We have also made significant progress in the brands division.

"The retail division has seen robust Easter holiday trading against tough comparators and we look forward to a successful football World Cup both on and off the field. The Board continues to look to the future with confidence."

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For further information, please contact:

Sports Direct International plc Dave Forsey, Chief Executive Bob Mellors, Group Finance Director	0870 333 9410
Financial Dynamics Jonathon Brill Caroline Stewart Alex Beagley	020 7831 3113

 

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