Frasers Group revenue increased 5% to £2.58 billion during the first half of the financial year.

This was driven by an international revenue growth of 42.8%, the business said.

Frasers Group has today (4 December) published its unaudited half-year results for the 26-week period ended 26 October 2025.

According to the retailer, APBT decreased by 2.8% to £290.9 million due to an £822.3 million increase in impairments of tangible and intangible fixed assets.

The increase in interest costs of £11.3 million was mostly offset by a £33.8 million gain from the removal of the Coventry Arena business and an increase in premiums from investments of £41.1 million.

Retail profit from trading was up 12.2% to £411.4 million.

The firm also highlighted it had delivered £10.3 million underlying net-cost savings and synergy benefits despite increases in staff costs driven largely by increases to National Minimum wage and employers’ National Insurance.

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 reiterating our FY26 APBT guidance of £550m to £600m.

He added: “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.”

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