Next PLC NXT IMS - Third Quarter to 27 October 2012

  Next PLC (NXT) - IMS - Third Quarter to 27 October 2012

RNS Number : 9054P
Next PLC
31 October 2012



Date:        Embargoed until 07.00hrs, Wednesday 31 October 2012
Contacts:    Alistair Mackinnon-Musson
             Rowbell PR                          Tel: 020 7717 5239
Photographs: Photographs available at:



Next Plc
Interim Management Statement
31 October 2012

Sales for the Third Quarter to 27 October 2012

NEXT Brand sales (VAT exclusive) in the third quarter were up +2.7%. Stronger
sales in late  September and  early October made  up for  the unusually  quiet 
start to August.

The table below sets out our sales performance for the third quarter and  year 
to date.

Sales (VAT ex)                           Actual       Actual

                                  Third quarter Year to date
NEXT Retail                              + 1.1%       + 0.5%
NEXT Directory                           + 5.6%      + 10.4%
NEXT Brand Total                         + 2.7%       + 3.8%

Of which net sales from new space                     + 2.2%

The difference in the  performance of Retail and  Directory has narrowed.  We 
believe this is mainly  because Directory has  now annualised the  significant 
benefits of the delivery improvements we made at the start of last year.

Overall sales performance remains volatile, making it hard to draw conclusions
from any one short period of time. We expect total sales in the final quarter
to increase broadly in line with  sales for the year-to-date. Accordingly  we 
are narrowing our full year sales guidance to a range of +3.0% to +4.5%.

Guidance for the Current Year to January 2013

The narrower  sales guidance  range and  greater certainty  on costs  for  the 
remainder of this year  enable us to  give a more  precise profit range.  The 
table below sets  out the  sales guidance along  with our  forecast growth  in 
profit and EPS at either end of that range. We now expect Group profit before
tax to be in the range £590m to £620m (previously £575m to £620m).

Full Year Estimates                      Guidance Lower end Guidance Upper end

Underlying, Year to January 2013
Brand sales (VAT exclusive)                          + 3.0%             + 4.5%
Group profit before tax                               £590m              £620m
Growth in profit before tax                          + 3.5%             + 8.7%
Share buyback expectation                             £200m              £200m
Growth in basic EPS (vs last year                     + 10%              + 15%

Christmas Trading Statement

We intend  to issue  a sales  update for  the period  to 24  December 2012  on 
Thursday 3 January 2013.

                                   - ENDS -

                     This information is provided by RNS
           The company news service from the London Stock Exchange


IMSBIBDGGBXBGDG -0- Oct/31/2012 07:00 GMT
Press spacebar to pause and continue. Press esc to stop.