Frasers Group revenue rises 8.3% as retail margins widen

Adjusted profit before tax slipped despite the top-line growth. The decline reflected higher depreciation charges and increased investment in the group's store estate and digital infrastructure, the company said.

Frasers ended the year with net debt of £375 million, up from £280 million a year earlier, driven by capital expenditure on new stores and warehouse automation. The board declared a final dividend of 12 pence per share, bringing the full-year payout to 22 pence, up from 20 pence the prior year.

Premium lifestyle sales, led by Flannels, grew 12% year on year, outpacing the group's core sports retail segment, which rose 6.5%. The company said it expects further margin expansion in the current year as it rolls out its elevated retail format across more locations.