Next plc has announced its full year results:

- Full price sales were up 4.0% and total group sales rose by 5.9%

- Profit before tax rose by 5.0% to £918 million

- For the FY25 financial year Next continues to expect total sales to rise by 6% and profit before tax to be up 5%

Charlie Huggins, manager of the 'Quality Shares Portfolio' at Wealth Club, commented:

"This is another excellent set of results from Next, with sales and profits both progressing, in a year characterised by deep economic uncertainty and rising inflation. With inflationary pressures easing and fears of a hard economic landing receding, Next can look forward to the year ahead with confidence.

In truth, the UK economy has not fared as badly over the last year as many had expected. But this shouldn't take away from Next's excellent operational execution. Several other retailers have struggled, and some, like Wilko's, have been consigned to the history books. Next's core proposition is clearly resonating with the UK consumer and is arguably stronger than ever.

Next appears quietly confident for the year ahead. Shrewd acquisitions and investments have improved its growth prospects, while moderating inflation has significantly reduced pressure on costs. And while the UK economy isn't out of the woods, the economic tea leaves don't read as grimly as at this stage last year.

Overall, there is probably nothing new in these results today to get investors excited, and the shares may take a pause for breath. But Next remains in rude health and can look forward to the future with confidence."

*Charlie Huggins owns shares in Next Plc.

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For further information contact:

Jo Thorne: 07939882816, jo.thorne@wealthclub.co.uk

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The aim of Wealth Club is simple. To provide high net worth individuals and sophisticated investors with clear, impartial and well researched information on investment opportunities not typically available through mainstream stockbrokers or financial advisers. Wealth Club was set up in February 2016 and is now the largest non-advisory broker of tax efficient investments such as VCTs, EIS and Inheritance Tax Portfolios. Since launch 11,000 clients have invested more than £1.1 billion through its platform.

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