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You are here: Home | City and Corporate | City broker view - Next

City broker view - Next

Tuesday January 6th 2009

Teathers maintains its 'Hold' recommendation on Next following its trading update that showed a decent sales performance.

The broker suggests Next's numbers were impressive on the basis of it not
discounting ahead of Christmas, unlike many of its rivals. As a result, management stated that current year profit estimates will be in-line with market expectations with pre-tax profit forecast to be between £415 million and £435 million.

Despite acknowledging the attractive valuation, excellent management and strong balance sheet of Next, Teathers expects clothing to remain a tough market. But on the back of today's (January 6) statement the shares have jumped 7% to £11.65p in early trading.


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