Frasers Group Plc (FRAS.L), a retail, sport and intellectual property group, reported Thursday significantly higher profit in its first half with higher revenues. Further, the firm said it remains cautious into the second half, and maintained fiscal 2026 outlook.
On the London Stock Exchange, the shares were trading at 725.00 pence, up 0.21 percent.
Michael Murray, Chief Executive of Frasers Group, said, "We've made a solid start to FY26 even though market conditions are tough, consumer confidence is very subdued and excess inventory continues to weigh on the industry, leading to increased promotional activity. While we remain cautious into the second half, our focus is unwavering as we confront these challenges head-on...."
Looking ahead for fiscal 2026, the company continues to expect adjusted profit before tax of 550 million pounds to 600 million pounds, including the expected loss from XXL ASA and the first-time equity accounting of HUGO BOSS and Accent Group.
The previous guidance excluded the results of XXL ASA which was acquired on June 27.
In the first half, profit before tax surged 97.2 percent to 412.1 million pounds from 209.0 million pounds last year, reflecting fair value gains on derivatives held in relation to strategic investments.
Earnings per share grew 112.8 percent to 76.4 pence from 35.9 pence last year. Earnings per share from continuing operations were 68.9 pence, higher than 35.3 pence a year ago.
Adjusted profit before tax was 290.9 million pounds, compared to 299.2 million pounds last year. Adjusted earningfs per share were 49.8 pence, compared to prior year's 51.0 pence.
Revenue for the period grew 5 percent to 2.58 billion pounds from 2.46 billion pounds a year ago, mainly driven by international revenue growth of 42.8 percent.
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