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Next sees profits rise of 9pc
Thursday, March 21 08:06:14
British clothing retailer Next has recorded a 9pc rise in profit, driven by growth at its Directory internet and catalogue business. However the firm, which has 30 stories in Ireland, said its new year had got off to a quiet start - at the bottom of its 1-4pc growth guidance for the 2013-14 year.
Next made an underlying pretax profit of £621.6 million (E727 million) in the year to end January 2013. That compares to its own guidance of £611-625 million, analysts' consensus forecast of £620 million, and £570.3 million made in the previous year. Earnings per share rose 16.6pc to 297.7 pence, partly reflecting a £241 million share buyback according to RTE News.
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