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Tyne Talk

Mike Ashley’s Profits Up 40%

8 years ago
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Sports Direct and its related offshoots continue to massively profit from Mike Ashley’s hands-on approach.

As a rudderless Newcastle United continue to drift towards the rocks, not a case of ‘if’ but ‘when’, while Ashley expertly steers (with his top professional management team) Sports Direct into ever greater success.

Today saw confirmation of some excellent financials from SD with their own Chief Executive (maybe Newcastle United could consider having one of them?), Dave Forsey referring to the period as a ‘record breaking year’.

While 2,000 of the 24,000 SD staff are to share a £126m shares bonus after hitting targets, the company has seen pre-tax profits up 40% to £207.2m and sales increased by 30% to £2.19m.

Mike Ashley currently owns 64% of Sports Direct – do the maths!

The empire comprises of 400 stores and the SD have revealed that even the first few weeks of the current financial year were ahead of schedule.

In these tough economic times, it can only be seen as a massive success story to have a self-made English businessman employing 24,000 directly, plus god knows how many along the supply chain. Especially when you compare this to the disgrace that is Starbucks and others making fortunes from the UK population and doing everything they can to avoid paying tax in this country. However….

Just imagine if Mike Ashley gave the same care and consideration to Newcastle United, or even simply employed a professional management team to run the club on his behalf.

Just imagine.

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