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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Sports Direct International    SPD   GB00B1QH8P22

SPORTS DIRECT INTERNATIONAL

(SPD)
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Sports Direct International : Ashley re-elected to board despite protest

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09/11/2019 | 09:37am EDT
FILE PHOTO: Mike Ashley, founder and majority shareholder of sportwear retailer Sports Direct, stands between shelves of stock during a factory tour after the company's AGM, at the company's headquarters in Shirebrook

LONDON (Reuters) - Mike Ashley, the founder and chief executive of Sports Direct International, was re-elected to the British sporting goods retailer's board on Wednesday, though nearly a quarter of independent shareholders voted against him.

Several shareholder advisory groups had urged investors to vote against Ashley's re-election at its annual general meeting after Sports Direct lurched from one crisis to another over the last year.

Ashley owns 62.7% of the company, according to Refinitiv data, making his re-election inevitable.

A stock exchange filing showed he received the support of 90.99% of votes cast at the firm's meeting in central London, with 9.01% against. But that meant just under a quarter of votes cast by independent shareholders were against him.

In April, Sports Direct failed to prevent department store chain Debenhams from falling into administration and saw its equity stake wiped out.

In July, the group warned it could face a 674 million euro bill from Belgium's tax authority and said last year's purchase of department store group House of Fraser out of administration may have been a mistake.

Sports Direct's auditor Grant Thornton has also quit and the retailer is struggling to find a successor.

Ashley barred media from attending the meeting.

(Reporting by James Davey; editing by Costas Pitas)

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Financials (GBP)
Sales 2020 3 847 M
EBIT 2020 178 M
Net income 2020 104 M
Debt 2020 345 M
Yield 2020 -
P/E ratio 2020 14,5x
P/E ratio 2021 14,9x
EV / Sales2020 0,46x
EV / Sales2021 0,45x
Capitalization 1 420 M
Chart SPORTS DIRECT INTERNATIONAL
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Technical analysis trends SPORTS DIRECT INTERNATIONA
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 3
Average target price 261,67  GBp
Last Close Price 2,80  GBp
Spread / Highest target 14 206%
Spread / Average Target 9 259%
Spread / Lowest Target 6 517%
EPS Revisions
Managers
NameTitle
Michael James Wallace Ashley CEO & Executive Deputy Chairman
David Daly Chairman
Karen Byers Head-Global Operations
Jonathan Kempster Chief Financial Officer & Executive Director
David Brayshaw Non-Executive Director
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GRANDVISION43.96%7 720
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