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Mike Ashley Finances Soar With Latest Results

9 years ago

News this morning that the Mike Ashley finances have taken another huge leap in profits and turnover..

With his business empire ideally suited to these times of austerity, Ashley’s business model is surging forward as the cash rolls in and he expands ever further with takeovers of failing brands/companies.

The figures announced this morning reveal that Ashley’s Sports Direct, in the half year to October 27, has seen pre-tax profit jump by 16.9% to £146.2m.

The group revenue has gone up by a massive 23.5% to £1.35bm with the UK sports retail sales up by 13.4% to £903.3m.

The international sports store sales went up by 30.8% to £118.5m with new acquisitions overseas adding £87.7m.

The good news for Ashley doesn’t stop there as his burgeoning premium lifestyle division, including the likes of Republic and USC, has seen sales go up by an incredible 83.2% to £102.8m.

Meanwhile, like the strange offspring who is kept locked in the attic, while Newcastle United have had an excellent few weeks of hard fought victories on the pitch, the off-field shambles continues.

With Ashley turning the screw on the newspapers now and effectively banning them from all but minimum contact, as he introduces a cash for questions policy for day to day contact with players. So, ironically, further reducing the profile Newcastle United as a business has in this commercial world.

The massive surge in profits right across Ashley’s empire is once again massively helped by the profile Newcastle United free advertising gives his various brands.

So drink a toast to Ashley’s billions when you are at St.James’ Park on Saturday, overpowered by the free adverts for Sondico, Dunlop, Sports Direct, Firetrap and look forward to a January when no doubt we will be regularly reminded of Newcastle United’s place in the world now and how the club has to live within its (Ashley inflicted much reduced) means.


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