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Shares in Sports Direct slump 5%

SPORTS Direct International shares slumped by more than 5% in spite of a record half-year profit.

The retailer, which has dozens of stores in Scotland and a joint venture with Rangers, benefited from the interest in the London Olympics and Paralympics.

Revenue in the six months to October 28 was up 22.5% from £888.6 million to almost £1.1 billion while underlying pre-tax profits came in 26% ahead at £125.1m, up from £99m.

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