Key financial information
Results for the Year Ending JANUARY 2017
As anticipated, the year to January 2017 was a challenging year for NEXT, despite this Earnings per share declined by only -0.3% to 441.3p. We propose to maintain our total full year ordinary dividend flat at 158p.
Whilst total sales for NEXT Retail declined by -2.9%, sales for NEXT Directory increased by +4.2%. Total Group sales were broadly flat at £4.1bn for the year.
Cash flow remained strong and we returned £502m to shareholders through a combination of ordinary dividends (£226m), special dividends (£88m) and share buybacks (£188m).
We have continued to invest in the business, spending £161m on new stores, warehousing and systems. Net debt increased to £861m, well within our bond and bank facilities of £1.4bn.
Financial highlights for the year are as follows:
Total Group sales £4,136.8m, down -0.3%
Profit before tax £790m, down -3.8%
Earnings Per Share 441.3p, down -0.3%
Final ordinary dividend 105p, making 158p in total for the year
Last year was a 53 week year. In order to give a clear picture of the underlying performance of the business, the figures above are shown on a 52 week versus 52 week basis.
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