British retailer is confident on its strength to successfully go through the coming months. Taking the March figures as “a reasonable guide range for the full year”, Next has advanced that profits for the full year will be between £560 million
ahead to the first half, the company advanced that they are “confident that NEXT Brand sales for the first half will remain within our +1% to +4% guidance range and we are forecasting that profit for the first half will be ahead of last year."
For the full year, basis earnings per share are estimated to grow 4 % to 13 %. Profit before tax is expected in the range of 560 million pounds to 610 million pounds. Brand sales are estimated to grow 1 % to 4 %. The company intends to buy back up to 200 million pounds of shares from surplus cash flows.
They estimate that the cumulative effects of intended share buybacks and cash generation, together with lower corporation tax rates, will increase this year's earnings per share by 6% more than the growth in profit, compared to the previous 5%.
As per Wednesday early trading, NEXT value of shares traded reached £2,245,462,832. It is worthy to remember that in early April Next Plc Chief Executive Simon Wolfson sold 125,000 shares in the company at 3,057p each for a total of £3.8 million and now owns around 0.9% of the company.