Mike Ashley's holding company posts huge loss despite increasing revenue
31 October 2019
Mike Ashley's holding company for Newcastle, MASH Holdings Limited, turned a £51.9 million profit in 2017 into an eight-figure loss in 2018, financial results just released for the period reveal.
Meanwhile, MASH's revenue, strengthened by the combined turnover of sports retailer Sports Direct and Newcastle, increased by 5.2 per cent.
Newcastle United's holding company, MASH Holdings Limited, made a huge loss in 2018 as the company failed to live up to the previous year's good results, a filing at Companies House reveals.
In 2018, MASH made a loss after taxes of £23.5 million, down from a profit of £51.9 million the previous year, which, according to the company, was because the previous year included asset sales which could not be replicated in 2018.
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