Frasers Group boosted by acquisitions
8th December 2022 Frasers Group has announced a profit after tax of £219.6m for the first half of the 2022 financial year, an increase from £143.7m from the year before. Frasers group saw an increase in revenue from £2.6bn, up from the £2.3bn it saw in the first half of 2021. In its interim results, the group accredited much of its success to the acquisitions it has made this year. A busy 2022 for the group, who operate House of Fraser, Sports Direct and GAME, has seen them take control of Missguided, I saw It First, Amara, and Gieves & Hawkes, amongst other acquisitions. The group also acquired the Coventry Building Society Arena for £17m. Increased sports retail revenue, the opening of new FLANNELS stores, and increased international sales were other factors in the group’s success. Fraser’s group is targeting between £450m and £500m profit before tax for this financial year. David Daly, non-executive chair of Frasers Group, said: “We have delivered a strong performance during the period, despite the challenging backdrop of heightened economic uncertainty in the UK, soaring energy costs, rapidly rising inflation, a widespread cost of living crisis and continued geopolitical instability. Whilst post pandemic issues with the global supply […]
