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Next profit up 9 pct, quiet start to new year

Thu, 21st Mar 2013 07:12

LONDON, March 21 (Reuters) - Next, Britain's secondbiggest clothing retailer, met guidance with a 9 percent rise inyear profit, driven by growth at its Directory internet andcatalogue business.

But the firm, which also trades from over 500 stores inBritain and Ireland and almost 200 stores in more than 30countries overseas, said on Thursday trading in its new year hadgot off to a quiet start - at the bottom of its 1-4 percentgrowth guidance for the 2013-14 year.

Next made an underlying pretax profit of 621.6 millionpounds ($940.6 million) in the year to end Jan. 2013.

That compares to Next's own guidance of 611-625 millionpounds, analysts' consensus forecast of 620 million pounds, and570.3 million pounds made in the 2011-12 year.

Earnings per share rose 16.6 percent to 297.7 pence, partlyreflecting a 241 million pounds share buyback.

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