Sports Direct’s profits hit almost £120m, ten times more than last year. Mike Ashley’s sportswear company said in a recent statement that it made profits of £119.5m last year, on sales of £1.45bn. Revenues were up from £1.37bn to £1.45bn its brand division, which includes Slazenger and Dunlop didn’t fare nearly as well, posting a 17% drop in sales to £190m.
 
The bumper results are at least in part due to efforts to cut costs and reduce its net debt by 27.7% - although it remains at a fairly hefty £311.9m meaning that long-suffering shareholders still won’t receive a dividend. 
 
So increased sales and profits, and no dividends, Newcastle United ownership, huge brand ownership, an interesting relationship with the City all combined make Mike Ashley our employee of the month!