Frasers Group launches £80m share buyback programme

Retailer Frasers Group has launched its latest £80m share buyback programme.

The program will run from today until just before the company enters a close period before announcing its preliminary results for the financial year, which ended yesterday.

Under this plan, the company will spend up to £80m to buy back its shares, with a maximum of 10m shares to be repurchased.

The Shirebrook-headquartered retail group has a large portfolio of brands including House of Fraser, Sports Direct, Flannels and Jack Wills.

Frasers Group ended Friday with its shares at 799p, reflecting a market value of £3.59bn.

The company may buy back a portion of its shares, potentially exceeding 25% of the average daily trading volume on the London Stock Exchange.