Sonae Group, the Portuguese company that owns the Sport Zone chain and many other retail operations in other sectors, has announced a 44 percent drop in net earnings to €20 million for the first half of this year, although its operating profit declined by only 3 percent to €87 million. Excluding amortization, the Ebitda margin actually rose by 0.4 percentage points to 10.5 percent. Sonae's total revenues fell by 3 percent to €2.53 billion in the first six months although private consumption dropped by 5 percent in Portugal over the period, but Sport Zone and other specialty retail chains saw their foreign turnover increase by 20 percent.

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