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Next profit misses consensus by 20.9% in fiscal H2

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Next profit misses consensus by 20.9% in fiscal H2

Next PLC said its normalized net income for the fiscal second half ended Jan. 24 came to £1.82 per share, compared with the S&P Capital IQ consensus estimate of £2.30 per share.

EPS increased 11.0% year over year from £1.64.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £286.3 million, a gain of 8.2% from £264.6 million in the prior-year period.

Total revenue increased year over year to £2.15 billion from £2.06 billion, and total operating expenses grew on an annual basis to £1.68 billion from £1.62 billion.

Reported net income grew 12.3% from the prior-year period to £377.3 million, or £2.40 per share, from £335.9 million, or £2.08 per share.

For the year, the company's normalized net income totaled £3.15 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of £4.03.

EPS rose 15.7% from £2.73 in the prior year.

Normalized net income was £488.9 million, a gain of 12.5% from £434.5 million in the prior year.

Full-year total revenue increased 6.9% on an annual basis to £4.00 billion from £3.74 billion, and total operating expenses grew 6.1% year over year to £3.20 billion from £3.01 billion.

The company said reported net income rose 14.7% year over year to £634.9 million, or £4.10 per share, in the full year, from £553.3 million, or £3.47 per share.