Advertisement
UK markets open in 1 hour 27 minutes
  • NIKKEI 225

    38,432.79
    +880.63 (+2.35%)
     
  • HANG SENG

    17,169.83
    +340.90 (+2.03%)
     
  • CRUDE OIL

    83.48
    +0.12 (+0.14%)
     
  • GOLD FUTURES

    2,339.50
    -2.60 (-0.11%)
     
  • DOW

    38,503.69
    +263.71 (+0.69%)
     
  • Bitcoin GBP

    53,610.35
    +215.44 (+0.40%)
     
  • CMC Crypto 200

    1,441.33
    +26.57 (+1.88%)
     
  • NASDAQ Composite

    15,696.64
    +245.33 (+1.59%)
     
  • UK FTSE All Share

    4,378.75
    +16.15 (+0.37%)
     

BUZZ-Sports Direct: falls on 'ballooning' net debt

** Sports Direct falls 9.8 pct despite reporting a 7 pct rise in H1 adjusted earnings

** Broker Canaccord Genuity says SPD's "ballooning" net debt is a cause for concern: up to £471.7 mln from £182 mln a year earlier, as a result of capex, buybacks and acquisitions

** Says earnings flattered by restatements and disposals; says retail P&L tells real story (sales -1.4 pct, gross margin -80 bps despite costs falling by 9.7 pct)

** Second top faller on FTSE Small Cap index; worst day for the stock since June 2016