Sports World WaterfordThe decision by Irish retailer Elvery’s management to proceed with a buyout of the company earlier in the year was vindicated by the annual results of a main rival Sports Direct who yesterday reported a 20% rise in half year profit to a fraction short of £250 million (€31.5 million).

The overalls group runs 600 stores across Europe including 27 in Ireland under the Sports World brand that operates alongside Heatons in many cases.

The overall European sports retail market is estimated to be worth around €50 billion.

Sports Direct had been one of the bidders for the Elvery’s stores but reportedly withdrew from the process before the local management, led by Patrick Rowland.

Sports Direct are reported to be close to resolving a dispute with Adidas which meant that none of their replica World Cup jerseys, including those of Germany and Argentina, were made available to Sports Direct in a row over discounting.

Sports World Sponsors Waterford United in the Airtricity League.