Mike Ashley’s Frasers Group, the owner of Sports Direct and Jack Wills, plans more acquisitions and store openings after sales rose by almost a third and profits bounced back following the end of high street lockdowns.
Pre-tax profits for the company, which also owns House of Fraser, Flannels, Game and Evans Cycles, and recently bought the online specialists Missguided and Studio Retail, increased to £366m in the year to 24 April from just £8.5m a year before, as sales rose almost 31% to £4.7bn. Investors reacted positively, with the company’s share price closing up 25% at 942p.
