The British retail group Next Plc closed the 2022/23 financial year with solid results and exceeded its profit forecast, which was only raised in January. This is the result of preliminary figures published by the company on Wednesday. For the current year, however, management expects further declines in sales and earnings.
Reported group sales for the past fiscal year, which ended on January 28, amounted to 5.03 billion British pounds (5.72 billion euros) and was thus 8.8 percent above the previous year’s level. Total retail revenues, which include sales from partner brands on the Group’s online platforms, grew 8.4 percent to £5.15 billion.
Next also made progress in terms of earnings: Operating profit grew by 4.1 percent to 942.5 million British pounds. Net income increased by 5.0 percent to £711.7 million (EUR 808.4 million), exceeding expectations.
For the current year 2023/24, the retailer was still cautious in view of the persistently difficult general conditions and confirmed the forecasts presented in January. Accordingly, the group management expects a decline in sales of non-price reduced goods by 1.5 percent. Pre-tax profit attributable to shareholders, which reached £870.4 million last year, is expected to fall to around £795 million.