Sports Direct on track for EBITDA of at least Â£150m
Sports Direct trading levels since July are ahead of last year.UK retail opened 5 new stores including 3 Field &Trek stores, and closed 2 stores, one of which was a relocation. International retail opened a store in both Belgium and Slovenia and closed a smaller store in each of those countries.
Dave Forsey, Chief Executive said: 'The Board is pleased with the progress made in the year to date. Group revenue for the 13 weeks ended 26 July 2009 increased 10% to £375m (2008: £336m) and the corresponding Group gross profit increased to £157m (2008: £150m).
'Since the end of July, trading has continued to be ahead of last year and we are very comfortable with our expectation of reducing net debt to below £400 million. The Board now expects, at current exchange rates, to achieve underlying EBITDA of at least £150 million this financial year.'
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