Frasers Group Reports Strong Growth in Pretax Profit for H1 2024

Frasers Group, the U.K. sports-fashion retailer, has announced an impressive 8% increase in pretax profit for the first half of fiscal 2024. The company’s strong performance was mainly driven by growth in its U.K. Sports and International sectors. Frasers Group remains confident in achieving its full-year guidance.

For the six-month period ending on October 29, pretax profit reached £310.2 million ($389.6 million), surpassing the £287.2 million recorded in the same period the previous year. In terms of adjusted pretax profit, which excludes exceptional and other one-off items, the company reported £303.8 million, compared to £269.7 million previously.

Frasers Group has high expectations for fiscal 2024, with projected adjusted pretax profit between £500 million and £550 million. Revenue also saw growth, rising from £2.65 billion to £2.77 billion.

“We have achieved a strong performance in the first half of the year and are carrying this momentum into the crucial Christmas trading period… We anticipate continued profitable growth for FY25 and beyond,” stated Chief Executive Michael Murray.