2021 was an “exceptionally productive year for NEXT,” according to its chairman, as the company “worked hard to adapt and develop [the] business to enable [it] to maximise the opportunities of an increasingly online world.”
According to results for the year ending January 2022, profit before tax grew to £823.1m, up from £748.5m in 2019/20 and £342.4m in 2020/21.
Meanwhile the business posted total group sales of £4.8bn, up from £4.3bn in the year to January 2020 and £3.6bn in the year to January 2021.
Looking ahead, following the closure of websites in Ukraine and Russia, and after moderating growth expectations in some other overseas territories, NEXT have lowered sales guidance for 2022/23 by £85m and profit guidance by £10m.
A statement from Michael Roney, chairman, says: “I am very proud to see how everyone within the business has embraced our challenges, opportunities and ambitions. I would like to thank them for this, and also for the continued commitment that they have shown over the past two years whilst having to deal with disruption to both their work and personal lives due to the pandemic.
“We enter 2022 with confidence in the outlook for our business and its ability to continue its successful evolution. The effects of the pandemic are ongoing and we remain mindful of macroeconomic and geopolitical risks, but our continued investment over many years in our people and our systems has generated strong and resilient results in the past year and we believe that it will continue to do so.”
