July 26, 2019 / 4:43 PM / 6 months ago

Britain's Sports Direct's earnings dented by House of Fraser

LONDON (Reuters) - Sports Direct, the British sporting goods retailer controlled by founder Mike Ashley, reported a 6% fall in full-year core earnings, hurt by problems integrating its purchase of department store chain House of Fraser.

The group said on Friday it made underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of 287.8 million pounds in the year to April 28.

Excluding House of Fraser, underlying EBITDA rose 10.9% to 339.4 million pounds - within the guidance Sports Direct issued in December of a 5% to 15% improvement.

The results were originally due on July 18, but the company and its auditor Grant Thornton needed more time to prepare the accounts. They were re-scheduled for 0600 GMT on Friday but, after further delay, not released until 1620 GMT.

Sports Direct also said its finance chief Jon Kempster would step down in September.

Reporting by James Davey, Editing by Paul Sandle

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below