Next becomes third largest retailer in the UK

Monday, 22 April 2013
Next has become the third largest British retailer for market value at 6.9 billion pounds. Earlier this year the company reported a 15 percent hike in earnings per share and dividend for their investors.

This weekend, Next’s stock market value was 6.9 billion pounds, behind Sainsbury’s 7.1 billion pounds and Tesco’s 29 billion pounds, reported ‘Daily Mail’. A surge in the share price of fashion retailer Next has made it Britain’s third-biggest retailer.

Earlier this month Next announced that it has purchased on market 314,277 of its ordinary shares for cancellation at a price of 4190.6394 pence per share. Following the purchase, the company's registered share capital consists of 160,472,983 ordinary shares of 10 pence each.

This is being a prosperous year for Next, which has seen how earnings per share and dividend have grown by over 15 percent have grown for the fourth consecutive year. “The year to January 2013 was another good year for Next. Underlying earnings per share before exceptional gains grew by 16.6 percent to 297.7 pence and we propose to increase our full year dividend to 105 pence,” John Barton, the chairman of Next, advanced in March.

“Our share price again performed well during 2012, in both absolute and relative terms. Over the last two financial years the share price has risen by over 100 percent,” highlighted the company in a statement issued March, 21.

Related News