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Next PLC (NXT)

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Wednesday 30 October, 2013

Next PLC

Interim Management Statement

RNS Number : 6961R
Next PLC
30 October 2013
 

Date:

Embargoed until 07.00hrs, Wednesday 30 October 2013

 

 

Contacts:

David Keens, Group Finance Director

 

NEXT PLC

Tel:  0844 844 8888

 

Alistair Mackinnon-Musson

Email: [email protected]

 

Rowbell PR

Tel:  020 7717 5239

 

 

Photographs:

Photographs available at:

http://press.next.co.uk/media/company-images/campaignimages.aspx

 

 

Next Plc
Interim Management Statement
30 October 2013

 

Sales for the Third Quarter to 26 October 2013

Next Brand sales in the third quarter were up +4.3%, just above our second half guidance range of +1% to +4%.  Trading remained volatile throughout the period.

The table below sets out our performance for the third quarter and year to date.  The following graph shows the growth, by week, in £m Sterling.

Sales (VAT ex)

Third quarter

Year to date

Next Retail

+0.4%

- 0.5%

Next Directory

+10.7%

+9.2%

Next Brand Total

Of which sales from new space

+4.3%

+3.0%

+1.9%

 

 

£ Sales growth by week graph:  Click or paste the following link into your web browser to view the PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/6961R_1-2013-10-29.pdf

 

With three quarters of the year behind us, and better visibility of full year costs, we are able to further narrow our sales, profit and EPS guidance for the full year.  The table below sets out our new guidance.  For comparison, the guidance issued in September is shown on the right hand side.

 

Full Year Estimates

Underlying, Year to January 2014

New Guidance

October 30th

 

Previous Guidance September 12th

Lower end

Upper end

 

Lower end

Upper end

Brand Sales Growth

+2.0%

+3.75%

 

+1.5%

+3.5%

Group Profit before Tax

£650m

£680m

 

£635m

£675m

Profit before Tax growth

+4.6%

+9.4%

 

+2.2%

+8.6%

Share Buyback estimate

£300m

£350m

 

£300m

£300m

Basic EPS growth

+15%

+21%

 

+12%

+19%

 

EPS will be enhanced by share buybacks of at least £300m, of which we have already purchased £295m.  We may buy up to £50m more shares in the current year, depending upon the prevailing share price.  As detailed in our September statement, the lower tax rate will also boost post-tax EPS.

Christmas Trading Statement

We intend to issue a sales update for the period to 24 December 2013 on Friday 3 January 2014.

END

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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