The Fat One Is Losing Money

Latest reports from the financial markets show Sports Direct are today's biggest loser on the stock exchange. Might explain why he's trying to get the press to pay for access to club info.

(Noon): Shares in Sports Direct fell 8% after the retailer's half-year profits failed to meet analysts' expectations.

Pre-tax profits for the half year to 27 October rose 14.3% to £143.1m, with sales up 23.5% to £1.345bn.

Sports Direct said it had out-performed in the first half of the year, but that trading "has now reverted to management's original expectation".

Sports Direct was the biggest faller in the FTSE 100, with the index down 62.50 points, nearly 1%, at 6,445.22.

Info from BBC website.

 

Cue forced repossession of shares issued to shop staff... #prcoup

 

Profits up 14.3% and sales 23.5% - fail to see where he's losing money other than a blip on the FTSE.

 

He owns millions of shares which saw a 8% drop in value,

 

But he also owns the company itself which is making ****loads...

 

Minted is minted though fellas.
It's all cyclical.
He will have made an overall massive profit over the past couple of years.

 

The only thing to have caused a blip would be the fact that the profits per share are a smaller rise than the turnover. In other words his margins are being cut and he's having to sell more to make the same profit.

An 8% fall is an overreaction but it may be interesting to see whether I ought to go in again next year. The share is an excellent growth share and it's moving in the right direction and anyone buying last October, just over a year ago, would have doubled their money at tonight's close, after going up 4.1% today.

 

Should we have a collection for Mike at the game tomorrow?

 

The share price fall is more to do with Adidas than profits.

http://uk.reuters.com/article/2013/12/12/uk-sportsdirect-results-adidas-idUKBRE9BB0QO20131212

 

No, actually the explanation lies in the fact he's just a greedy bastard. I wouldn't be surprised if he'd presented his daughter with an invoice on her eighteenth birthday for 'bringing-up fees'.