Ads
By
Reuters API
Published
Jul 24, 2019
Download
Download the article
Print
Text size

Sports Direct says delayed full-year results to meet guidance

By
Reuters API
Published
Jul 24, 2019

British sportswear retailer Sports Direct said on Wednesday its results for the full 2018-19 year, which have been delayed, will be published on Friday and are expected to be within the guidance issued last December.




Sports Direct, which is controlled by Mike Ashley, said in December its core business was on track to meet its target of growing earnings by 5-15% in the year to April 29, 2019, but the purchase of the House of Fraser department store chain would result in a drop in full-year earnings.

"The accounts and audit are at an advanced stage and the results are expected to be within the guidance issued by the company on Dec. 13," the group said.
Shares in Sports Direct were up 8.5% at 1036 GMT, paring its year-on-year losses to 41%.

 

© Thomson Reuters 2024 All rights reserved.