Frasers Group has hailed a “solid first half” as continued success is seen in its Elevation Strategy, with progress on margins, cost savings and international expansion against tough market conditions.
According to unaudited half year results for the 26 weeks ended 26 October 2025 (FY26 H1), revenue grew 5% on the same period last year to £2.58bn, driven by international revenue growth of 42.8%. Meanwhile, pre-tax profits jumped to £412.1m from £209m.
The period saw a number of acquisitions and investments, including completing the acquisitions of Holdsport in South Africa, XXL in the Nordics and recently opening the business’s first stores with partners in Malta, Australia and the Middle East.
UK property investments have seen shopping centre and retail park acquisitions including sites at Greenock and Almondvale. The company has also invested in The Webster, a luxury multi-brand retailer in the US.
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, and we are today re-iterating our FY26 APBT guidance of £550m to £600m.
“We are continuing to invest boldly in our Elevation Strategy-deepening brand partnerships, elevating our product mix, opening new Sports Direct stores internationally, and acquiring strategic properties to strengthen our portfolio. These steps reinforce our ambition and give us real confidence in the substantial long-term opportunities ahead for the Group.”
