BUSINESS LIVE: FTSE slips back; Christmas boosts Next; M&C Saatchi bid

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BUSINESS LIVE: FTSE slips back after strong start to 2022; Christmas trade boosts Next; Potential M&C Saatchi bid


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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.

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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

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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