Next profits boosted by growth in full-price sales

Next York

Next has posted an uptick in half-year profits as it hailed strong growth in full-price sales and its online business.

The fashion giant registered a 2.7% increase in pre-tax profit to £319.6m during the six months to July 31. Operating profit grew at the slightly quicker rate of 3.1% to £340.9m.

On a statutory basis, including the impact of the new IFRS 16 regulations, pre-tax profit rose 4% to £327.4m.

Next said full-price own-brand sales advanced 4.1% during the six-month period. Including markdowns, total sales of its own-label products were up 3.8%.

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