Sports Direct has recorded a 21% rise in profits and will give a bonus valued at around £37 million to permanent staff.
Earlier this year the sports retailer was criticised for using zero-hours contracts, which do not guarantee employees work, but the company has now responded, labelling that criticism as "unfounded and inaccurate".
Approximately 90% of Sports Direct employees are reputedly hired for zero-hour contracts, however because of the company’s relatively generous bonus scheme, findings show that Sports Direct workers are better paid than those at high street giant Next.
Chief executive Dave Forsey said in a statement: “The group has delivered another solid set of results in spite of challenging trading conditions including the adverse impact on performance during the period of England's early departure from the FIFA World Cup in Brazil and unseasonably mild weather during Autumn, reducing footfall.
“However, with our ongoing focus on providing customers with exceptional quality and unbeatable value, we have continued to grow group revenues and earnings with interest, taxes, depreciation, and amortization.
Trading since the period end has been in line with management expectations and will continue to be driven by improvements in product range and availability, optimisation of both our in-store and web offerings, the introduction of click and collect in the UK and further investment in our store portfolio."
The UK inflation rate is currently at zero, although this is likely to rise as lower oil prices start to impact.
