Pre-tax profit at British retailer Next have risen 7.2% in the first half of the year to £285 million according to a trading update from the company.
The increase comes on the back of a 2.2% rise in sales to £1.68 billion, with the majority of the growth occurring in its directory division.
Next said the difference between its profit and sales growth was largely due to the performance of its full price business compared to sale items.
Sales of its branded, full price items rose 3.9% while the company also carried less stock during the year, leading to a 13% fall in “markdown sales”.
While retail revenue fell slightly during the first six months of the year the company said it was committed to expanding the number of stores it operates, as the current climate allows for them to secure well-located premises on good terms.
