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Frasers, formerly Sports Direct, reported sharp rise in first-half profit as the strong reopening of stores following the easing of pandemic restrictions led to sharp rise in sports retail revenue.
For the 26 weeks to 24 October 2021, pre-tax profit rose 75.3% to £186.0 million year-on-year as revenue climbed 23.6% to £2.34 billion.
UK sports retail revenue increased by 27.6% to £1.37 billion, largely due to the 'strong reopening of stores after the last lockdown in March 2021 and the comparative period being impacted by lockdowns as a result of Covid-19,' the company said.
Looking ahead to the period ended 24 April 2022, the company said it expected to achieve an adjusted pre-tax profit of between £300 million to £350 million.