Home Business News Mike Ashley’s profits tumble

Mike Ashley’s profits tumble

by LLB Reporter
13th Feb 19 2:35 pm

Sports Direct boss Mike Ashley saw his personal investment firm profits tumble in 2017, Sports Direct and Newcastle United football club had a difficult year.

Accounts filed at Companies House shows that Mash holdings soared 10% to £3.33bn, the year to 30 April 2017, although pre-tax profits nose dived by 63% to £102.5m.

Newcastle United’s turnover plummeted by 30% to £918m, due to commercial income and higher investment costs.

Sports Direct revenues soared by 11.7% to £3.24bn however, the retailer was hit hard by the pound collapsing following the Brexit vote.

Ashely also spent £700,000 on a company jet and a helicopter.

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