Next predicts better-than-forecasts profits
04/01/2006 - 07:21:07High street fashion store Next today predicted profits would be ahead of expectations after improved sales in the build up to Christmas.
Next said it expected pre-tax profits for the year to January 28 to be between £435m (€631.6) and £450m (€653m), compared with City expectations of £420m (€610m).
The better-than-forecast figure came after total group sales rose 9.8% on a year ago in the five months from August to Christmas Eve, even though like-for-like sales were 3.2% lower in its core high street estate.
