THOUSANDS of retail staff will get a cash windfall after Sports Direct shrugged off England’s woeful World Cup to lift profits.

The firm, founded by Newcastle United owner Mike Ashley, is handing out nearly five million shares to almost 2,000 workers.

Bosses say employees who take part in its shares scheme are expected to get around £18,000 each after the company met lofty performance targets.

They have also again defended the use of zero hour contracts, which offer people no guarantee of working hours, saying criticism of the practice has been inaccurate.

The business saw group revenues rise 4.7 per cent to £2.8bn for the year to April 26, with pre-tax profits up 31 per cent to £313.4m.

Bosses say the results came despite England’s World Cup debacle in Brazil, which saw the side finish bottom of its qualifying group with just one point.

According to its figures, the company’s sports retail division saw revenues touch £2.4bn in the 12 months, 5.5 per cent higher than a year ago, though its premium lifestyle business, which includes high street fashion retailer USC, saw revenues drop to £208m as it closed loss-making stores.

Praising its 27,000-strong workforce, Dave Forsey, chief executive, said the firm’s achievements mean it is primed for further growth, including new European sites, to bolster existing stores in areas such as Austria, Belgium and Estonia.

He said: “The success of the group has largely been created by our staff, whose dedication and commitment has been sustained over many years.

“Despite the adverse impact on performance of England’s early departure from last year’s World Cup, and the unseasonably mild weather during autumn reducing footfall, we have, yet again, succeeded in delivering solid results.

“Our international expansion remains focused on Europe, which includes working with strong local partners to move into new territories.

“During the year, we expanded our European stores by nine, and are now active in 20 countries, including Ireland and Iceland.”

Referring to the use of zero hours contracts, which saw the business previously accused of using Victorian practices by former Labour leader Ed Miliband, Keith Hellawell, non-executive chairman, said the criticism has no foundations.

He added: “Much of the comment regarding the group's use of zero hour contracts has been unfounded and inaccurate.

“We comply fully with all legal requirements, which relate to casual workers, including sick pay, holiday pay, and freedom to gain other employment.

“Casual workers also participate in general incentive schemes.”

Mr Hellawell also confirmed the company is progressing well with plans to open hundreds of cut-price gyms to muscle in on the fitness market.

Announcing the programme last year, bosses said they wanted to set up 200 sites across the UK, to put pressure on experienced operators, such as David Lloyd Leisure and Bannatyne Health and Fitness.

According to its trading update, the vision is on target, with 25 standalone gyms, based in former LA Fitness sites, and two retail and gym ventures helping the company surpass full-year membership targets.

The firm previously told The Northern Echo it has not ruled out setting up bases in the North-East in the project.

Sports Direct has stores across the North-East, and last week revealed it has created at least 44 jobs in a new site at Catterick Garrison, in North Yorkshire.