NEWCASTLE United owner MIke Ashley's retail business has posted record sales and profits which will bring a bonus for around 2,000 staff.
The sportswear chain Sports Direct saw revenues rise to £1.8bn and profits up 24% to £152m fuelled by excitemen about the Olympics and Euro 2012.
The company met its profit target for the year to April 29 which means around 2,000 of its 18,000 staff will be able to get an average bonus of £15,000 next month.
And Ashley’s majority stake in the business means he will get a bonus of eight million shares in 2018 if the company meets its targets.
Chief executive Dave Forsey said he was particularly impressed by an 82% increase in the firm’s online sales.
"We achieved record revenues and growth across all divisions," he said. "Our colleagues have worked hard during the year and, as a result, we have exceeded the first underlying EBITDA target of £215m (before the charge for the bonus share scheme) and the "super stretch" target of £225m.
"Also, those staff eligible for the 2009 bonus share scheme will be receiving their first share awards in August 2012, with the remainder of their shares vesting in August 2013.
"Trading since the period end has remained in line with management's expectations where increased investment in margin has been funded by stronger retail sales.
"In spite of the low expectations surrounding England's participation in Euro 2012 and the unseasonal weather our core divisions are performing well.
