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Sports Direct pre-tax profits plunge 73% despite core earnings uptick

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Sports Direct’s strategic investment in Debenhams has seen the retailer take a major hit in its full year pre-tax profits, although it recorded an uptick in group earnings and EBITDA. According to its preliminary results for the period ending April 29, Sports Direct’s reported profit before tax plummeted 72.5 per cent year-on-year to £77.5 million, primarily because of a £85.4 million impact from its Debenhams holdings. READ MORE: Sports Direct buys Barrington Sports out of administration Sports Direct shamed for all-male board room However, on an underlying basis, profit before tax surged 34.5 per cent to £152.9 million and underlying EBITDA grew 12.2 per cent to £306.1 million – which was better than the average City forecast of £296.8 million

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Sports Direct pre-tax profits plunge 73% despite core earnings uptick

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