<\/p>\n
Next profits rose but the Iran war may force up prices<\/p>\n
Fashion chain Next has warned that instability in the Middle East \u2013 which represents around 6%
of its total turnover \u2013 may force it to raise prices.<\/p>\n
It has accounted for \u00a315 million of additional costs that are likely to arise from the conflict, such as fuel and air freight, on the assumption that the disruption lasts for three months. These costs have been offset by savings elsewhere, so do not affect its guidance. <\/p>\n
\u201cBeyond the next three months, if we see these costs persist, then we will begin to pass costs through as higher pricing \u2013 but for today that remains a contingency not a plan,\u201d it said in a statement.<\/p>\n
\u201cAt this point, the longer term implications of the conflict are uncertain, and Next is not well placed to make predictions. <\/p>\n
\u201cAs yet, we have no feel for the medium-term effects on supply chain resilience, freight rates, factory gate prices and consumer demand. Much will depend on how long the conflict persists, and how much permanent damage is done to the world\u2019s energy infrastructure. <\/p>\n
\u201cWe will give a more detailed update with our first quarter Trading Statement on 6 May. We believe we will have a much clearer picture by then\u201d.<\/p>\n
The statement came alongside annual figures for 2026 showing profit before tax of \u00a31.158 billion, up 14.5% on a 10.9% rise in full price sales.<\/p>\n
Profit was \u00a38m higher than previous guidance due to better than expected full price sales in January, along with improved clearance rates in the end-of-season sale.<\/p>\n
It is guiding to a 4.5% rise in profit to \u00a31,210bn for 2027 and anticipates returning \u00a3500m of cash to shareholders through share buybacks, special dividends or capital return.<\/p>\n
The board is recommending a final ordinary dividend of 181p per share, which would bring the total ordinary dividends for the year to 268p per share.<\/p>\n
FirstGroup<\/p>\n
FirstGroup indicated that both First Bus and First Rail divisions are trading in line with expectations. <\/p>\n
First Bus has seen growth through acquisitions and mitigation of industry challenges, while First Rail\u2019s open access services and the upcoming London Overground contract are progressing well. <\/p>\n
The company has also enhanced its fuel and electricity hedging for FY 2027 and FY 2028, with approximately 88% and 53% of fuel requirements hedged respectively for those years, and significant electricity consumption also covered. <\/p>\n
FirstGroup anticipates modest growth in adjusted earnings per share for FY 2026 and expects to end the fiscal year with an adjusted net debt position of \u00a3135-145 million.<\/p>\n
Serica Energy<\/p>\n
Serica Energy reported a challenging year for 2025, with revenue falling to $601 million from $727m in 2024, primarily due to lower production averaging 27,600 boepd.<\/p>\n
Despite lower oil prices at $67\/bbl, gas prices increased to 84 pence per therm, and the company completed four acquisitions,positioning it for production to exceed 65,000 boepd by the end of 2026.<\/p>\n
The company maintained its final dividend at 10 pence per share and reported a net debt of $200 million as of December 31, 2025.<\/p>\n
\t #warns #Iran #hit #prices #FirstGroup #line #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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