Sports Direct profits up 10%

British sporting goods retailer Sports Direct’s pre-tax profits increased by almost 10% to £160.6m (€203.6m) in the first half of the year, according to its latest set of accounts.

The group, which is owned by its founder and Newcastle United owner, Mike Ashley, saw its revenues surge 6.5% to £1.43bn as EBITDA rose to £203.1m, an increase of almost 11%.

On the back of the strong results, Sports Direct International chief executive, Dave Forsey indicated that the company remained on track to achieve its earnings guidance of £360m.