Next Share News (NXT)

Footsie has climbed above 5,700 for the first time since June 2008 as a string of updates from the retail sector are mostly well-received.Next leads the risers in the FTSE 100. Pre-tax profits soared in 2009 after the desperate consumer environment the fashion retailer feared at the beginning of the year failed to materialise. Pre-tax profits climbed to £505.3m from £428.8m the previous year on revenues that climbed to £3.41bn from £3.27bn.B&Q and Castorama chain owner Kingfisher raised its dividend for the first time in five years as profits bounced back in 2009. Debt also tumbled and the group has now expanded its capital investment plans. Designer fashion group Ted Baker revealed a 10% hike in 2009 pre-tax profit and said it is encouraged by trading since the start of the current financial year. Pre-tax profit rose to £19.5m for the 52 weeks ended 30 January 2010 from £17.8m before. Revenue rose 7.2% to £163.6m.Elsewhere in clothes, menswear retailer Moss Bros saw losses narrow in the year to January 30 after seeing an improvement in trading in the second half of the year. The company, which specialises in suits, posted a pre-tax loss of £3.9m before exceptional items, compared with £5m the previous year. Revenues slipped to £128.7m from £129.7m.Greeting cards retailer Clinton Cards posted a 29% hike in half year pre-tax profit and sees annual profit ahead of market expectations. Pre-tax profit rose 29% to £19.6m for the 26 weeks ended 31 January 2010. Group revenue increased 21% to £226.1m. Like for like sales in the Clinton brand rose 3%.There was also economic news to cheer retailers. UK retail sales jumped 2.1% last month, according to the Office of National Statistics, the biggest increase since May 2008 and way higher than the 0.8% predicted by economists.In other sectors, money raised on the London Stock Exchange's markets in the 11 months to end-February was down on the previous year's record levels, but March has seen some signs of improvement in the new issue pipeline. Money raised on the company's exchanges totalled £74bn. Around £54bn was raised on the London exchange, while in Italy the figure was £17bn.Tour operator Thomas Cook echoed bullish comments from rival TUI and reports a steady increase in bookings for the summer as consumer confidence recovers.Water company United Utilities said its regulated business is on track to deliver a modest increase in underlying operating profit in the current financial year. Premier Oil saw profits slide in 2009 despite higher oil production as prices slipped from the previous year. Pre-tax profits slumped to £79.9m from £277.6m on revenues that fell to £621.1m from £655.2m.Petropavlovsk, the gold miner formerly known as Peter Hambro Mining, saw profits soar in 2009 after it achieved record production and benefited from high prices for the yellow metal. Pre-tax profits jumped to $197.3m from $40.4m on revenues that rose to $472.3m from £381.7m.Pub group Mitchells & Butlers is roaring ahead as brokers review their numbers after the strategic review yesterday. The group intends to focus on food-based outlets in future.