Next reports 12% jump in annual profits to £782m

19th March 2015

img

High Street fashion retailer Next has reported that its annual profits jumped 12.5% to £782m after sales rose by 7% to reach £4bn for the first time.

But following the announcement shares in the group slipped 5% in early trading as brokers banked profits. Over the past year Next stock has moved 16% higher and enjoyed a 10% rise in just the last six months.

The current broker consensus on the shares denotes a ‘hold’.

In a statement the retail house declared that the year to January 2015 was “a good year” for the business as underlying earnings per share (EPS) grew by 15% to 420p and it is proposing to increase its total full year ordinary dividend by 16% to 150p.  This marks the sixth consecutive year that its EPS and ordinary dividend have grown by 15% or more.

Next chairman John Barton said: “2015 will bring new challenges and opportunities.  Our strategy will remain the same, focused on our products, our profitability and returning cash to our shareholders.”

Leave a Reply

Your email address will not be published. Required fields are marked *