Disclosure: at the time of publication I have a position in Next Plc (LSE: NXT) – to view the full Shares and Stock Markets portfolio click here
First half sales came in at -1.2% as compared with the previous six months and management have predicted sales to be similar for the second half of the year.
Pre-tax profits are expected to be between £680 million and £740 million which is why I’m happy to continue holding.
Management have also maintained their distributions to shareholders with special dividends on 1 November and have hinted at using surplus cash for buybacks if and when the time is right.
There really is not much else to go on from today’s trading statement other than there were no surprises today and nothing that the board had not already warned the market about.
I’m holding for now and see myself doing so for at least another 12 months.