Frasers Group PLC said it started on Monday a new share buyback programme equal in size to one just completed.

The Sports Direct Owner said the buyback programme, worth up to £80.0 million, will run until July, which is when it will report its annual results for the financial year that concluded on Sunday.

In addition to the maximum spend of £80.0 million, Frasers said it will buy back no more than 10.0 million shares.

Frasers shares were trading at 821.00 pence each on Monday morning in London, up 3.1% on the day.

Frasers had started an earlier £80.0 million buyback back in February, completing that this month.

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