Next targets nearly £1bn in profits this year 

The company posted a 5% increase in profits during its last financial year. 

British retailer Next has said it expects profits to grow to nearly £1bn (€1.16bn) as it saw a surge in demand for its products during its latest financial year.

In the year to the end of January, Next generated profit before tax of $918m (€1bn) which is up 5% compared to last year. Next’s full price sales grew by 4% while total group sales - including subsidiaries - grew by 6%.