Frasers Posts Adj. Pretax Profit In FY22

Frasers Group Plc (FRAS.L ZVX.F) reported fiscal year adjusted profit before tax of 344.8 million pounds compared to a loss of 39.9 million pounds, prior year. Excluding acquisitions and on a currency neutral basis, adjusted profit before tax increased by 394.0 million pounds. The Group noted that its trading update excludes the SRL trade and assets acquired during the year and does not include the presentation of Bob's Stores and Eastern Mountain Sports as a discontinued operation.

Profit before tax was 366.1 million pounds for the 52 weeks ended 24 April 2022 excl. Studio Retail Limited, compared to 8.5 million pounds, prior year.

Revenue excl. Studio Retail Limited was 4.75 billion pounds compared to 3.62 billion pounds, previous year. UK Sports retail revenue increased by 31.2%, for the period. Premium Lifestyle revenue increased by 43.6%.

The Group expects to achieve adjusted profit before tax of between 450 million pounds and 500 million pounds for the next financial year.

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