1. ITV Report

Sports Direct founder Mike Ashley splashes out on new corporate jet

Mike Ashley outside the Sports Direct headquarters in Shirebrook, Derbyshire. Credit: PA Images

Profits at scandal-hit Sports Direct have taken a hammering but it hasn't stopped billionaire owner Mike Ashley splashing out on a new corporate jet.

The retailer said that underlying earnings plunged 33.5% to £145.3 million in the first half of the year, following the collapse in sterling.

It comes after a string of controversies for the firm including being grilled over working conditions at the company's factory in Shirebrook, Derbyshire.

The retailer has also been condemned by shareholders over its corporate governance practices.

Despite a difficult year, Mr Ashley has claimed again that he would like Sports Direct to become the "Selfridges of sports retail".