BUSINESS LIVE: Strong Christmas boosts Next; Potential M&C Saatchi bid; Bumper year for London IPOs forecast
Next beat guidance for sales in the run-up to Christmas and has raised its full-year profit outlook for a fifth time in ten months.
The retailer’s full-price sales rose 20 per cent in the eight weeks to 25 December versus the same period in its 2019-20 year, compared to guidance of 10.2 per cent.
Advertising group M&C Saatchi has received a preliminary approach from Vin Murria, a director of the company, which could lead to a takeover offer.
Ms Murria is both a director of the company and the executive chairperson of acquisition vehicle AdvancedAdvT, which yesterday snapped up a 9.8 per cent stake in M&C Saatchi.
The UK is in line for another booming year of floats as an array of big name firms consider listing in London.
The ‘raw material is there’ for a stellar year on the stock market, according to analysts.
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Next forecast a full-year pre-tax profit of £822million, up from the £800million previously guided and up 9.8 per cent versus 2019-20
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Read more at DailyMail.co.uk