Frasers Group makes “solid” start to new financial year
Frasers Group has reported a strong uplift in profit as it delivered a “solid” first half.
In the six months to 26 October, pre-tax profit climbed to £412.1 million from £209 million a year earlier.
Subscribe to TRBRevenue increased by 5% to £2.58 billion driven by international revenue growth of 42.8%.
Meanwhile, retail profit from trading rose by 12.2% to £411.4 million.
The company said the performance was boosted by Sports Direct and strengthening margins in its premium and luxury division, particularly at Flannels, despite a “challenging” consumer environment.
As part of its Elevation Strategy, Frasers Group acquired Holdsport in South Africa and XXL in the Nordics region in the period. It has also recently opened its first stores with partners in Malta, Australia and the Middle East and opened its biggest Sports Direct flagship to date in Liverpool.
Michael Murray, chief executive of Frasers Group, said: “We’ve made a solid start to FY26 even though market conditions are tough, consumer confidence is very subdued and excess inventory continues to weigh on the industry, leading to increased promotional activity.
“While we remain cautious into the second half, our focus is unwavering as we confront these challenges head-on, and we are today re-iterating our FY26 APBT guidance of £550 million to £600 million.
“We are continuing to invest boldly in our Elevation Strategy – deepening brand partnerships, elevating our product mix, opening new Sports Direct stores internationally, and acquiring strategic properties to strengthen our portfolio. These steps reinforce our ambition and give us real confidence in the substantial long-term opportunities ahead for the group.”
