Next’s Profits - September 12, 2007
Next (the clothes store)’s, profits have seen pre-tax profits in the six months to July rise 11% to £198.2m, better than the £182m predicted by analysts. Revenues were also up 1.9pc to £1.5bn.
I’m quite fond of Next, although some of it is very 30-year old man trying to look cool.
Next said that the rise in profits was due to cost cutting and improvement in its margins, and the lion’s share came from its directory business. Profits at the directory division - which takes in its catalogue and online businesses - jumped 24% to £73.8m. Its stores produced a less eye-catching rise of 1.2pc to £112.5m.
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