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Sports Direct - EBITDA to be at least £150m

December 2009

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • SPD
  • Price:
  • 104p
In a pre-close update covering its first half year to 25 October, Sports Direct noted that trading remains in line with expectations and the Board still expects, at current exchange rates, to achieve EBITDA of at least £150m this financial year. This compares with underlying EBITDA of £136.8m last year. Meanwhile, net debt is still expected to reduce below £400m by the year-end. H1 results will now be announced on 10 December.Brokers' pretax profit forecasts for this year are currently ranging from £81m (eps: 10p) to £110m (12.7p). Subscribers were recommended to take part-profits two issues ago but with the prospect of low interest rates continuing for some time and England’s participation ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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