JJB Sports staff reap pounds 4.5m
Tuesday 25 November 1997
The senior staff, which include area managers, buyers and warehouse managers, were granted the options over JJB shares when the retailer came to the market in 1994. The shares, which started trading at the equivalent of 77p three years ago, closed at 604p last Friday, a rise of 684 per cent though they edged down to 593.25p yesterday. The current market value of the shares under option is pounds 5.15m, with a gain of pounds 4.5m.
In its three years on the market JJB has grown its turnover from pounds 60.5m to pounds 130m while profits have risen from pounds 7.6m to pounds 20.3m
David Whelan, chairman of JJB said: "I believe that no business can grow at this rate without significant input of time and effort by its staff and I am delighted that so many of our senior staff are benefiting from the company's success over the last three years."
Mr Whelan said he was confident that a significant number of the shares would be retained by the staff though some kind of "spending spree" is expected.
JJB had 123 stores at the time of flotation. It opens its 200th outlet next month. The company has benefited from the surge in popularity in branded sportswear with clothing and trainers from companies such as Adidas, Nike and Reebok.
- 1 School playground evacuated over 'unusually aggressive' grey squirrel
- 2 Hollywood actor Mickey Rourke beats opponent 33 years his junior in exhibition boxing match
- 3 Jennifer Lawrence scores first UK top 40 single with Hunger Games track 'The Hanging Tree'
- 4 Today was a bad day for renters, landlords, and democracy
At least 100 dead after Islamists launch attack on Nigerian mosque
Hollywood actor Mickey Rourke beats opponent 33 years his junior in exhibition boxing match
'You should come to my house and eat cheeses with me': 4-year-old sends adorable love letter to girl at school
Scientists predict green energy revolution after incredible new graphene discoveries
Russell Brand: 'Katy Perry? I don’t know who that is'
Obama: The only people with the right to object to immigration are Native Americans
Ukip says babies born to immigrants in the UK should be classed as migrants – which would include Nigel Farage’s own children
The young are the new poor: Sharp increase in number of under-25s living in poverty, while over-65s are better off than ever
David Cameron sets out immigration reforms: We should distrust Ukip and their 'snake-oil of simple solutions'
Ukip mocked after mistaking Westminster Cathedral – for a mosque
Tamir Rice: 12-year-old boy playing with fake gun dies after being shot by Ohio police
iJobs Money & Business
Excellent Package: Austen Lloyd: EAST ANGLIA - SENIOR SOLICITOR LEVEL ROLE** -...
£Attractive Package: Citifocus Ltd: Prestigious asset management house seeks a...
£Negotiable: Citifocus Ltd: This is a varied role focusing on the firm's mutua...
£90000 - £140000 per annum + benefits: h2 Recruit Ltd: Are you a high achievin...