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Dec
2016
Friday 9th
posted by Morning Star in Britain

BILLIONAIRE Sports Direct owner Mike Ashley has yet again shown his contempt for his much abused workforce by splurging on a new corporate jet despite the firm’s profits taking a nose-dive yesterday.

The retailer announced that underlying earnings had plummeted 33.5 per cent to £145.3 million in the first half of the year, while pre-tax earnings fell 57 per cent to £71.6m.

Mr Ashley said: “The last six months have been tough.

“Our UK sports retail business continues to be the engine of Sports Direct, but our results have been affected by the significant deterioration in exchange rates.”

The news comes after a string of controversies for the firm which has seen Mr Ashley hauled before MPs and accused of running the firm like a Dickensian workhouse.

Shadow business secretary Clive Lewis said: “It is not surprising that Sports Direct’s profits have taken a hit given the revelations that employees have been paid less than the minimum wage for years, made to work in Victorian conditions and the collapse of corporate governance structures that followed.”




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