Profits at Sports Direct owner Fraser Group rise more than 13%

Fraser Group's brands also include House of Fraser, Flannels, USC and Jack Wills, and it holds strategic equity stakes in a raft of other retailers including Hugo Boss, ASOS, Boohoo, Currys and AO World

The company is controlled by its founder Mike Ashley with his son-in-law Michael Murray currently serving as chief executive. 

Frasers Group, the British sportswear and apparel retailer that owns the Sports Direct brand, reported a 13.1% rise in annual profit and forecast further strong growth in its new financial year, saying its plan to diversify and move upmarket is working.

Shares in the company were up 8% on Thursday after it forecast profit growth for its 2024/25 year of up to 15%.