Sports Direct confirms EBITDA target for the current fiscal

House of Fraser has confirmed ahead of today's AGM that trading is in line with the company’s expectations of achieving between a 5 percent and 15 percent improvement in underlying EBITDA for the current financial year, excluding the acquisition of House of Fraser.

Commenting on the update, Sports Direct Chief Executive Mike Ashley said in a statement: "Our strategy to transform House of Fraser into the Harrods of the High Street will be a game changer."

The company recently acquired struggling department store chain House of Fraser immediately after it went into administration.

Picture:Sports Direct media centre