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Sports Direct lifts profit outlook on lower interest charges

Reuters - UK Focus

LONDON, May 28 (Reuters) - Sports Direct, Britain's biggest sporting goods retailer, raised its full-year earnings per share (EPS) and profit outlook on Thursday due to lower interest charges and what it described as a prudent depreciation policy.

The firm, founded and majority controlled by Newcastle United (Shenzhen: 000925.SZ - news) owner Mike Ashley, said it would shortly give a presentation to staff where it would reiterate its outlook for core earnings in line with market expectations of 380 million pounds, but would say profit before tax (PBT) and EPS would be ahead of the market view.

It did not specify by how much.

According to Thomson Reuters data, analysts expect annual PBT to the year April 2015 of 290 million pounds and EPS of 36.7 pence.

(Reporting by Kate Holton, Editing by Paul Sandle)