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    UK retailer Next Plc expects 7% sales growth in 2022

    UK retailer NextPlc expects 7% sales growth in 2022. This growth rate represents a combined annual growth rate of 6.5% compared to last year’s 2019-20, which was unaffected by COVID. The company forecasts pre-tax profit of £ 860m for fiscal year 2022, an increase of 4.6% compared to the current fiscal year.

    “The Board of Directors has declared that it will pay a special dividend of 160p per share at the end of January 2022. It will return to the normal pre-pandemic dividend cycle over the next year. Currently, before distribution to shareholders. We expect to generate at least £ 345m in free cash. On September 3, 2021, we paid a special dividend of 110p per share for a total of £ 140m. The Board has decided to return an additional £ 205m to shareholders with a second special dividend of 160p per share, which will be registered at the end of business on January 14, 2022. Will be paid to shareholders on January 28, 2022. Shares will be traded on ex-dividends from January 13, 2022, “Next Plc said in a press release.

    Towards 2022, the company revised its estimates of selling price inflation a year later, primarily as a result of unexpectedly high fares lasting until the end of the year, in addition to further increases in manufacturing costs. In addition to rising commodity costs, we are also experiencing rising operating costs in the UK, primarily as a result of wage inflation in the UK. “We expect average wage inflation for the entire Next Group to be 5.4%, which is a 6.6% increase in national living wages, in addition to wage inflation in labor-deficient sectors, especially warehouses and technology. By the way. “Release description.

    UK retailer NextPlc expects 7% sales growth in 2022. This growth rate represents a combined annual growth rate of 6.5% compared to last year’s 2019-20, which was unaffected by COVID. The company forecasts pre-tax profit of £ 860m for fiscal year 2022, an increase of 4.6% compared to the current fiscal year.

    “In the next year, we plan to return to the normal pre-pandemic dividend cycle. The final dividend will be proposed in March 2022 and will be paid in August 2022, subject to shareholder approval at AGM. An interim dividend declared in September 2022 and paid in January 2023, “the release added.

    Fiber2Fashion News Desk (RR)

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    UK retailer Next Plc expects 7% sales growth in 2022

    Source link UK retailer Next Plc expects 7% sales growth in 2022

    The post UK retailer Next Plc expects 7% sales growth in 2022 appeared first on Eminetra.

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