Thursday 14 December 2017

Profits and sales at retailer Next up in first half

PRE-tax profits at Next rose 8.2pc to £271.8m in the first half of the years as the company reduced markdown sales by 13pc.

New figures also show that total sales in the six months increased 2.2pc to £1.68bn, the mid-point of guidance.

But operating profits were up 7.2pc.

Next chief executive Simon Wolfson said: “The group has made good progress in the first half, delivering profits at the upper end of our expectations."

"Looking ahead the economy looks set to improve moderately, albeit at a slow pace and with the risk that credit easing may not translate into growth in real earnings," he added.

Sales growth was driven by both increased online and new selling space.

Directory sales, which are mainly online, increased 8.3pc to £597.6m.

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