RESULTS FOR THE HALF YEAR TO JULY 2012
NEXT has made a better than expected start to the year, with Group revenue up 4.8% and profit 10.2% ahead of last year. We returned a further £112m to shareholders through share buybacks which, together with lower tax rates, boosted the increase in earnings per share to 18.7%. We are increasing the interim dividend by 12.7% to 31p per share.
Financial highlights are as follows:
- Revenue up 4.8% to £1,640m
- Profit up 10.2% to £251m
- Net cash inflow of £168m before dividends and £112m of share buybacks
- Earnings per share up 18.7% to 118.5p
- Interim dividend up 12.7% to 31p per share
August and early September sales have been disappointing during what has been an unusually quiet period. We remain cautious about the economic outlook whilst maintaining full year guidance that our sales, profits and earnings per share will all move forward on last year.
