British retailer Frasers Group Plc closed the 2021/22 financial year with new record results. This emerges from preliminary, as yet unaudited figures, which the parent company of retail chains such as Sports Direct and House of Fraser published in an interim report on Thursday. However, the contributions from the mail-order company Studio Retail Limited, which was taken over at the end of February, have not yet been taken into account in the results presented.
In the past fiscal year, which ended on April 24, the group was able to increase its sales by 30.9 percent to 4.75 billion pounds sterling (5.57 billion euros). Adjusted for acquisitions and exchange rate changes, revenues grew by 31.2 percent.
The group of companies made a strong leap in terms of earnings: Profit before tax rose from 8.5 million pounds sterling in the previous year to 366.1 million pounds sterling (429.2 million euros). Adjusted for special effects, it reached a level of 344.8 million British pounds, after a corresponding loss of 39.9 million British pounds had been posted in 2020/21.
Despite adverse market conditions and numerous global uncertainties, the group is optimistic for the current 2022/23 financial year: Adjusted for special effects, profit before taxes should increase to between 450 and 500 million British pounds.