ENDERBY (dpa-AFX) - Next Plc (NXT.L) on Wednesday raised its full-year guidance after stronger-than-expected second-quarter trading.
The retailer now expects full-price sales of £6 billion, up 6.3% from last year, compared with its previous forecast of £5.9 billion, or 5% growth.
Group sales are now projected at £7.5 billion, representing 6.6% growth, up from the earlier estimate of £7.3 billion, or 4.6% growth.
The company increased its forecast for full-year group profit before tax to £1.243 billion, up 7.3% year on year, from its previous guidance of £1.218 billion, or 5.2% growth. Post-tax earnings per share are now expected to reach 812.9 pence, up 9.2%, compared with the earlier forecast of 792.9 pence, or 6.5% growth.
The company said the revised outlook reflects £70 million of additional full-price sales, which contributed £15 million to profit, as well as a £10 million increase in expected profit from stronger-than-anticipated performance of its equity investments.
For the second quarter, full-price sales rose 9.2% from a year earlier, well ahead of the company's forecast of 4% growth.
First-half results are scheduled to be reported on September 17.
NEXT shares closed at 14,810 pence on Tuesday, down 0.60%.
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