Next records 18% hike in annual profits as B&Q sees a 50% increase

CLOTHING retailer Next and DIY chain B&Q both reported profitrises yesterday, beating analysts expectations.

The group posted pre-tax profits of £505 million (€563m), up 18% on the £428.8m a year earlier.

Britain’s second-biggest clothing retailer said profits were boosted by increased home-furnishings, internet and catalogue sales.