Investors recommended to ‘buy’ as Sports Direct reports strong full year results

As Sports Direct reports full year results Sheridan Admans, investment research analyst at The Share Centre, explains why he recommends investors ‘buy’ the stock.
 
“Investors will be pleased to see Sports Direct report strong full year results this morning, with annual profits before tax up 15.6% and figures including underlying EBITDA and underlying diluted earnings per share coming in above consensus estimates. As the company announced it will still not be paying a dividend it remains a stock for the growth seeking investor.
 
“The share price has raced ahead over the past two years on the back of impressive sales and profit growth. We recommend Sports Direct as a ‘buy’ for investors as we become more confident in the improving economic outlook both in the UK and Europe, aiding the company’s strategy to expand. Momentum and expansion should support the share price and we recommend investors drip feed into the stock on dips.”