Frasers Group is set to commence a new £80m share buyback programme from today.
The Shirebrook-based retail giant is making the move to reduce the share capital of the company.
The news follows the business announcing a record performance for the year ended 30 April 2023.
Group revenue of £5.5bn marked an increase of 15.8% from £4.8bn in the prior year, largely due to acquisitions and the impact of a 53rd week in FY23.
Meanwhile reported profit before tax soared to £660.7m, up 96.9% from £335.6m in the year prior.
Strong results across the group were boosted in particular by profitable growth in sports retail.
