Mash Holdings, the holding company that regroups interests held by Mike Ashley in the sports business, more than doubled its pre-tax operating profit in the fiscal year to the end of April 2014 to £542.6 million (€758.4m-$834.2m), according to accounts filed at Companies House and reported by British newspapers. Mash Holdings owns Mike Ashley's majority stake in Sports Direct International (SDI), as well as some licensed brands and Newcastle United football club. The rise in Mash Holdings' profit was boosted by increased disposals of SDI shares. The company's turnover jumped to more than £2.7 billion (€3.77bn-$4.15bn), compared with £2.3 billion (€3.21bn-$3.54bn) the previous year. The rise was supported by SDI's acquisitions in Austria and the Baltics. The sports retail division's sales jumped by 24.1 percent to about £2.4 billion (€3.35bn-$3.69bn), its pre-tax profit reached £499.9 million (€698.6m-$768.5m) and net assets were worth £1.0 billion (€1.40bnm-$1.54bn). Drapers further reports that, in December last year, Mash Holdings created two new subsidiaries, Mash Alpha and Mash Beta, and more than 300 million shares held by Mash Holdings in SDI were transferred to Mash Beta in January by way of a gift.