Business

£25m knocked off Next profits

THE mild autumn will knock £25 million off profits at Next after the sustained period of good weather saw its sales performance melt away. The group warned that turbulent trading conditions meant it could even see sales fall over the key final quarter, which includes the Christmas period. Sales grew by 5.4 per cent in the third quarter to October 25, compared to original expectations of 10 per cent, following the mild autumn which is set to see temperatures of up to 20C (68F) this week. Next said it now expected full-year pre-tax profits to rise 11 per cent to £770 million, down from £795 million previously expected.