Next shares have leapt by more than 13% after reassuring investors with a modest profit upgrade following a torrid year for the bellwether retailer.
Chief executive Lord Simon Wolfson, who has become renowned for his bearish forecasts, declared that he was more confident in the company’s prospects despite announcing its steepest fall in profits since the recession.
Pre-tax profits fell 9.5% to £309.4m during the six months to the end of July while total sales dropped by 2.2% to £1.9bn.
