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Sports Direct withdraws EBITDA growth guidance

By Prachi Singh

20 Mar 2020

Business

Frasers Group has announced that its board expects COVID-19 to cause significant disruption to the business, including reducing customer footfall and therefore expects that the group will not achieve the range of guidance of 5 to 15 percent EBITDA growth for the financial year ending April 26, 2020.

The company said in a statement that it has been monitoring the potential impact of COVID-19 across its UK and international businesses and it is too early to estimate what the full impact from COVID-19 will be on the company’s performance for the current financial year and future periods.

The company further added that Frasers Group’s year-to-date performance had been in-line with expectations prior to COVID-19.

Picture:Sports Direct media centre