September 25, 2018 / 6:20 AM / 2 months ago

UK's Next raises full-year profit guidance

LONDON, Sept 25 (Reuters) - British clothing retailer Next reported a 0.5 percent rise in first-half profit and raised its guidance for the full year, saying it did not experience the loss of sales in August or early September it had previously expected.

The firm, which trades from over 500 stores in the UK and Ireland, about 200 stores in 40 countries overseas and its Directory online business, said on Tuesday it made a pretax profit of 311.1 million pounds ($407.7 million) in the 26 weeks to July 28.

That compares with 309.4 million pounds made in the same period last year.

Next raised its central guidance for 2018-19 pretax profit by 10 million pounds to 727 million pounds - broadly in line with last year’s profit of 726.1 million pounds. That would deliver a growth in earnings per share of 5 percent. ($1 = 0.7631 pounds) (Reporting by James Davey, Editing by Paul Sandle)

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