I think this stock is a bargain and should easily double from here.but don't just take my word for it Conrad Windam from lemming investor wrote this:


21st July 2004

The Eagle has left the nest, and plenty of feathers have been ruffled as a result. I am of course talking about the adverse departure last week of Simon Eagle, former Chairman and Director of SP Holdings. Eagle departed his position with the company through mutual consent, due to his misdemeanours elsewhere in the city. The knee-jerk reaction that the city always affords such situations has unduly affected SP Holdings, thus creating an opportunity that investors might wish to look closer at.

SP Holdings is a below the line marketing services group providing a range of services to the sports, entertainment, leisure and retail sectors across Europe, Asia, and South America. The companys client list boasts such names as the BBC, Tesco, JVC, Leeds Utd FC, Nationwide, and BAR F1, not bad for a company the size of SP Holdings.

On 5th July the company announced a major licensing agreement with Manchester United Merchandising Ltd, the clothing and fashion subsidiary of the worlds most valuable football club brand, Manchester United FC. The master licence will initially run for four years and is expected to generate a profit of 3 million over the period to the company. The profit of 750k per annum from this deal alone more than supports the current market capitalisation of 6.34 million.

Interim Results for the period ended 30th April are due for release on Friday, 23rd July. Having spoken with a director at SP Holdings I can confirm that the company remains perfectly happy at reaching the forecasts from house broker Seymour Pierce.

The forecasts from Seymour Pierce in their note dated 5th March anticipate EPS of 0.97p for the current year, rising to 2.89p in 2005. The figures suggest that the company trades on a current PE of 18.5 falling to 6.22 in 2005. I believe therefore that the price is far too low, especially considering that these forecasts were compiled before the major licensing deal with Manchester Utd Merchandising Ltd. I understand that Seymour Pierce will be updating these figures next week.

Simon Eagles holding in the company has been placed with institutions at a disappointingly low price of 12p. Whilst investors have been dissatisfied with the price that institutions have been able to pick up stock at, it does strengthen the shareholder base with further commitment to the company from institutions. Furthermore the serial investor David C. Newton has taken the opportunity to increase his stake in the company to 6.25%.

I should declare that I brought stock in the company this week at 17.5p. I believe that there are no concerns with how the company is trading, and that the recent complications surrounding the departure of Simon Eagle have created an interesting opportunity for shareholders. The directors themselves purchased shares at 19.5p in March.

The companys website is www.spholdings.co.uk

Broker BUY ratings......

Date Company Name Broker Rec. Price Old target price New target price Notes

05 Feb 13 Sports Direct... Seymour Pierce Buy 428.70 440.00 - - Retains
04 Feb 13 Sports Direct... Oriel Securities Buy 428.70 480.00 480.00 Reiterates
04 Jan 13 Sports Direct... Seymour Pierce Buy 428.70 - - Retains
18 Dec 12 Sports Direct... Goldman Sachs Conviction Buy 428.70 600.00 570.00 Reiterates
14 Dec 12 Sports Direct... HB Markets Buy 428.70 - - Reiterates
13 Dec 12 Sports Direct... Panmure Gordon Buy 428.70 450.00 450.00 Retains

N@P B Society.

08 Feb Sports Direct... SPD Seymour Pierce Buy 433.60 432.80 - - Retains

RNS sp down 6% following MASH share sale.

Sports Direct rethinks founder's payout, pays staff bumper bonus

LONDON | Thu Jul 18, 2013 11:53am BST
(Reuters) - Sports Direct (SPD.L), Britain's biggest sporting goods retailer, scrapped plans to pay its billionaire founder Mike Ashley a bonus worth some 60 million pounds on Thursday, saying it would look for other ways to reward him for its rapid growth.

Ashley, who founded the company in 1982, has not taken a salary since Sports Direct floated in 2007, during which time its share price has doubled. He has also provided significant free advertising for it through his ownership of English Premier League football club Newcastle United.

Espirito Santo Execution Noble Buy 628.00 500.00 685.00 Reiterates

N+1 Singer Hold 628.00 475.00 475.00 Reiterates

SportsDirect to Join FTSE
http://valueshare.co.uk/current-portfolio/sportsdirect/sports-direct-international-set-join-ftse-big-league/284/

The chart looks close to 'make your mind up time'.

SPD Sports Direct bouncing off a support line at 650p. target SP 750p or just above.

SPD Sports Direct..... looks to be recovering just at the right time for christmas. id give it another day for confirmation of breakout if your interested although it is moving up nicely today........

Potential expansion alert! http://www.moneyam.com/action/news/showArticle?id=5127964

Sports Direct Int'l sees H1 reported pretax profit fall

StockMarketWire.com

Sports Direct International has booked a 25.1% tumble in reported H1 pretax profit to �140.2m, from �187.3m, after a tough first six months of its financial year.

Group revenue was up 14.2% to �1.64bn, from �1.43bn. Group gross margin fell 450 basis points to 40.4%, from 44.9%, due to the devaluation of sterling after UK's non-binding Brexit vote in June.

"The last six months have been tough for our people and performance," said CEO Mike Ashley in a statement.

"Our UK Sports Retail business continues to be the engine of Sports Direct, but our results have been affected by the significant deterioration in exchange rates, and our assessment of our risk relating to our stock levels and European stores performance.

"We continue to elevate our sports retail proposition for our key third party brand partners and customers, as we progress towards our medium to long term goal of becoming the "Selfridges" of sports retail.

"We are changing our retail channels for customers in the UK, and we will be changing our approach to our customers in Europe, which will take time.

"What matters most to me is how tough the last year has been for the people who work at Sports Direct. Our people have once again found themselves in the spotlight through no fault of their own, yet they remain hardworking and loyal.

"It is for this reason that my immediate priority will be to protect the people at Sports Direct. Part of this includes the Company's commitment to underwrite the value of the share awards relating to the 2011 Share Scheme, that are vesting in September 2017, to reduce the impact of recent volatility on the financial outcomes for our people."

Separately, Sports Direct said it had appointed David Brayshaw as a non-executive director with immediate effect.

Findings of the Financial Reporting Review Panel in respect of the accounts of Sports Direct International plc for the year ended 26 April 2015
8 December 2016
The Financial Reporting Council (FRC) today announces the following matters in relation to the annual report and accounts of Sports Direct International plc (the company) for the year ended 26 April 2015.

The FRC has discussed certain issues with the company following its review of the 2015 annual report and accounts.

The principal issue arising related to whether the 2015 strategic report complied with the Companies Act 2006 requirement to be balanced and comprehensive. In this regard the FRC noted that

· there was no discussion of the development and performance of the company's international stores in its Sports Retail division, which represent a significant part of the company's operations in terms of the number of stores, total revenue, operating result and gross profit;

· one of the company's key performance indicators, Sports Retail like-for-like stores gross contribution, excludes stores that have not been owned by the company for the full 12 months in both periods. Therefore, in 2015 this key performance indicator excluded the contribution from the stores in Austria and the Baltic states acquired in 2014; and

· there was no discussion of the performance of these stores or their effect on the company's results.

The FRC noted the continuing lack of discussion about Sports Retail's international stores in the 2016 strategic report even though the key performance indicator of Sports Retail like-for-like stores gross contribution did include the stores in Austria and the Baltic states and this measure had decreased to (0.8%) from 7.4%.

On the basis of information provided by the company, the FRC also considered whether the aggregation of the UK and international Sports Retail stores was in accordance with IFRS 8 'Operating Segments'.

Following discussion with the FRC the directors have decided to include specific commentary about Sports Retail's international stores in its narrative reporting, including the strategic report, and to present separately segmental information about these stores in the accounts. This has resulted in the additional information in the commentary provided in the company's 2016 interim results, announced today, and the restatement of comparative amounts in the segmental disclosures. These changes will also be reflected in the company's 2017 annual report and accounts that it expects to publish in August 2017.

Following the corrective action taken by the company, the FRC regards the enquiries arising from its review of the company's annual report and accounts for the year ended 26 April 2015, initiated on 26 February 2016, as concluded.

The Guardian.

Mike Ashley, the controversial billionaire founder of Sports Direct International Plc, allegedly secretly paid his former chief executive 1 million pounds-a-year out of his personal funds in order to keep down the pay of other staff.

Bit of a turnaround here against all odds.

Looking at these in the morning..

In 3.57p

I t looks good here driver.

mitzy

Yes got in a bit late but still happy to hold 4p plus looks achievable short term..

Sports Direct boss Ashley wins £15m court case

Rising today so not so bad as some suggest.