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Sports Direct uses Mike Ashley's sibling for some overseas deliveries - report

Mon, 22nd Aug 2016 14:41

(ShareCast News) - Sports Direct pays some takings from web customers outside the UK to a delivery brokerage owned by founder Mike Ashley's brother, according to a report.Financial Times added that the FTSE 250-quoted retailer did not disclose this in its published accounts.The newspaper noted this expanded the list of transactions between the sporting-goods retailer and personal connections of billionaire Ashley.Sports Direct operates local-language websites that serve some 33 other countries.Earlier this year, in January, it emerged Ashley had put his daughter's 26-year-old boyfriend at the helm of Sports Direct's property team via a consultancy contract.That contract could see the boyfriend get paid millions of pounds.Meantime, Financial Times reported that Cleethorpes-based Barlin Delivery was owned by John Ashley, older brother to Ashley. It received a share of the revenue from Sports Direct's website orders sent overseas.These orders accounted for about 6% of Sports Direct's £2.9bn revenue, the report said, adding Barlin made about £300,000 a year in profit from the arrangement.Financial Times reported that the sporting goods retailer's website explained Barlin's role was only to deliver goods, not sell them.Barlin owned no trucks and employed no drivers; it paid couriers such as DHL to collect parcels from a Sports Direct warehouse, the newspaper reported.Companies are generally required to give details of dealings they have with related parties.Sports Direct said its auditors, Grant Thornton, had found no disclosure was required in relation to Barlin.
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11 Sep 2019 15:14

Sports Direct shareholders approve Ashley's re-election to the board

(Sharecast News) - Sports Direct shareholders voted in favour of founder Mike Ashley's re-election to the board at an annual meeting on Wednesday.

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11 Sep 2019 14:35

Sports Direct's Ashley re-elected to board despite protest

LONDON, Sept 11 (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...

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11 Sep 2019 11:59

LONDON MARKET MIDDAY: LSEG Approach And US-China Hopes Lift FTSE 100

(Alliance News) - Stocks got a boost on Wednesday as China appeared to soften its trade stance towards the US, while the London Stock Exchange Group added more juice to the FTSE 100 after getting

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10 Sep 2019 14:45

Britain's Sports Direct bars media from annual investor meeting

LONDON, Sept 10 (Reuters) - British retailer Sports Direct has barred media from attending its annual general meeting (AGM) on Wednesday where majority owner Mike Ashley faces shareholder opposition to his re-election as a director.Company founder...

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10 Sep 2019 11:13

Arena Events Slashes Dividend Amid Widened Loss And CFO Change

(Alliance News) - Arena Events Group PLC on Tuesday said its loss widened dramatically in the first half of 2019, hit by higher administrative expenses, with some approaching contract delivery it

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10 Sep 2019 07:59

UPDATE 3-JD Sports outperforms struggling UK retail sector

* First-half pretax profit up 6.6%* Shares rise 5.8%, topping FTSE index* Peel Hunt upgrades target price on "stellar" performance (Recasts, adds quotes, background and further reaction)By Noor Zainab Hussain and Paul SandleLONDON, Sept 10 (Reuters)...

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10 Sep 2019 07:59

UPDATE 2-JD Sports outpaces weak UK high street with profit rise

* First-half reported pretax profit rise 6.6%* Company says sales in core UK market "extremely encouraging"* Shares rise 5%, topping FTSE index (Adds shares, analyst reaction)LONDON, Sept 10 (Reuters) - JD Sports, Britain's biggest sportswear reta...

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9 Sep 2019 12:12

Aurora Investment Trust Net Assets Rise But Total Interim Return Lags

(Alliance News) - Aurora Investment Trust PLC on Monday said its net asset value rose in the first six months of the year but total return lagged behind its benchmark index.At June 30, a of

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4 Sep 2019 16:09

UK Shareholder Meetings Calendar - Next 7 Days

Thursday 5 SeptemberAvanti Communications (re delisting)FIH GroupCarpetrightMyanmar 6

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3 Sep 2019 14:41

FTSE 250 movers: Restaurant Group slips, AG Barr fizzes higher

(Sharecast News) - London's FTSE 250 was down 0.39% at 19,405.27 in afternoon trading on Tuesday, with Restaurant Group leading the index lower.

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30 Aug 2019 08:07

Clipper Logistics Confident Despite Continued UK Economic Uncertainty

(Alliance News) - Clipper Logistics PLC on Friday boosted its annual dividend despite a drop in profit after a rise in costs.Clipper is paying a final dividend of 6.5 pence per share for is

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16 Aug 2019 10:57

WINNERS & LOSERS SUMMARY: RBS Makes Partial Comeback After Steep Fall

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------Hiscox, a

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14 Aug 2019 16:57

LONDON MARKET CLOSE: Stocks Sink Amid Recession And Trade War Fears

(Alliance News) - Stocks in London ended firmly in the red on Wednesday as a US yield curve inversion and weak economic data from Germany and China stoked fears of a recession.The FTSE 100 index a

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14 Aug 2019 12:03

LONDON MARKET MIDDAY: Stocks Slide After Fleeting Tariff Delay Rally

(Alliance News) - US-China trade optimism in markets gave way to doubts over the outlook for relations between the two, leading the FTSE 100 to slump nearly 70 points at midday on blue-chip index

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14 Aug 2019 10:47

WINNERS & LOSERS SUMMARY: Sports Direct Sinks After Auditors Hang Back

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.----------FTSE 100 - Group, up 5.0%. The insurer reported profit in of

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