Pentland hits £5bn mark
Turnover at Pentland Brand has risen to £5bn, while pre-tax profits jumped to more than £500m according to its latest financials.
The firm posted a turnover of £5.05bn for the full-year to 31st December 2018, up from £3.63bn, while pre-tax profits rose from £295.2m to £509.4m.
Chairman Stephen Rubin commented: “Our retail division, comprising the group’s majority shareholding in JD Sports Fashion plc, delivered record results and has demonstrated its capacity to grow organically in both existing and new geographical markets, with a new opening of 83 new stores of which 78 are within international markets.
“The division’s agility and strong multi-brand, multi-channel proposition continues to exceed consumer expectations, position it as a world class sports fashion business,.
“Further to the acquisition of Sport Zone, the largest sports retailer in the Iberia area with stores in Spain, Portugal and Canary Islands earlier in the year 2018, Finish Line was acquired in the US, the largest market for sport lifestyle footwear and apparel.
“More recently in April 2019, our retail division also acquired the UK retail business of Footaslyum with the expectation that this complementary business will deliver operational and strategic benefits to the retail division, as a whole.”