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Mike Ashley's Sports
Direct has raised
its profit forecast after a strong start to the year.
Britain's biggest sports goods retailer, which is majority owned by
Ashley, said this morning that it now expects to achieve underlying
earnings before interest, tax, depreciation and amortisation of at
least £150m this financial year to end April 2010. That
compares with its previous forecast of "at least" £140m, and
the £137m profit made last year.
Sports Direct, which owns the Sports World and Lillywhites chains
alongside the Slazenger, Lonsdale and Dunlop brands, said revenues
climbed 10% to £375m in the 13 weeks
to 26 July, leaving gross profits 4.7% higher at £157m.
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