the picture gets clearer
By: j | July 10th, 2008
Newcastle United owner Mike Ashley’s Sports Direct reported preliminary year-end results for the twelve-month period ending on April 27th. These results are nothing short of dreadful and certainly give an indication of why he told the Evening Standard that while he is not looking to sell the club but that “I am keen to have partners in Newcastle.”
Notable points from these statements:
· Underlying EBITDA down 29.9% to £150m
· Underlying profit before tax down 51.1% to £85m
· Underlying earnings per share down 47.4% to 8.57p
· Group margin down 70 basis points to 43.6%
Sports Direct shares fell by 11.5 per cent in early trade to 63½p.
Updates to follow on this situation.
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Category: Team News
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Comments
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The man is only in it for a quick buck.
What a shame he isn’t making it
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United Kingdom
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