SPORTS Direct International today said robust trading over the Easter holiday had kept it on course to meet its recently improved profits target.
The owner of the Sports World chain added that sales for the nine weeks to March 28 rose 2.9% to £214 million, with profits up 7.9% to £76 million.
The performance, coupled with strong Easter demand and the start of a likely World Cup-related trading boost, should ensure the company meets its underlying earnings target of £160 million for the year to April 25.
It raised expectations for full-year earnings in February after previously increasing the target from £140 million to £155 million in December.
Chief executive Dave Forsey said: "We continue to be pleased with the strong performance of our retail division, including the growth of internet trading."
An annual earnings figure above £155 million will trigger payouts under a share bonus scheme introduced last summer to motivate staff.
The scheme, which applies to all permanent UK staff with more than one year’s service, will pay out 25% of base pay in shares which vest two years later.
The group has 371 stores in the UK and 63 overseas outlets, with more than 16,600 staff in total. It is controlled by Newcastle United owner Mike Ashley.
The company’s brands division, which includes Dunlop, Donnay and Karrimor, has also made significant progress, according to Mr Forsey.
He added: "The retail division has seen robust Easter holiday trading against tough comparatives and we look forward to a successful football World Cup both on and off the field."
