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Next shares jump 7.5 per cent

by LLB Reporter
31st Jul 19 9:56 am

High street fashion retailer Next has reported higher than expected profits for the year.

Shares in the company jumped 7.5% in early morning trading on Wednesday when Next announced group profit before tax was now to come in at ยฃ725m, up from ยฃ715m.

Analysts at Shore Capital said, โ€œNext remains a well-managed company with tight stock and cost controls.

โ€œThese are good results despite relatively tough comparatives and there are few retailers with upwards momentum in guidance, despite the uncertain outlook in terms of consumer sentiment.โ€

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