Frasers launches £80m share buyback
Frasers Group, the Shirebrook-based retail group, has announced an £80m share buyback.
The firm says the reasoning behind the move it reduce its share capital.
The news comes Frasers Group nearly doubled its profits for the year ending April 30, the firm revealed on Thursday (27 July).
The retail giant’s surplus came in at £660.7m to the end of April – a rise of almost 97% on 2022’s figures.
Revenue also rose – by almost 16% – to £5.57bn for the 12-month period.
Frasers put the record performance down to profitable growth in its sports retail business.
