Results for the Year to January 2014
NEXT has had another good year, achieving 5.4% growth in sales and 11.8% growth in underlying profit before tax. Strong cash generation enabled us to buy back 3.8% of shares outstanding without increasing financial leverage which, along with a lower tax rate, resulted in earnings per share growing much faster than profits.
Financial highlights are as follows:
- Sales £3,740m, up 5.4%
- Profit before tax £695m, up 11.8%
- Profit after tax £553m, up 16.9%
- Net cash inflow £272m, before £296m share buybacks
- Earnings per share 366.1p, up 23%
- Full year ordinary dividends 129p, up 23%
- 50p per share special dividends announced for 2014
During the year £296m was returned to shareholders through share buybacks, in addition to ordinary dividends. For 2014 three special 50p dividends have been announced; the first was paid in February, the second was paid in May and the third will be paid in August.