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Retailer Next reassures on year profit

Britain's third largest clothing retailer Next today reported tough trading over the key Christmas period, but said it expected full-year profits to at least match analysts' consensus forecasts. The retailer operates several stores in Ireland.

The firm said like-for-like sales rose 1.7% in the 23 weeks to January 4, with total sales in its retail operations up 12.4%.

Next said it expected a pre-tax profit of £293-303 million sterling for the 53 weeks to February 1, compared with analysts' consensus forecast of around £293 million.