Next joins the elite £1 billion profit a year club but warns of 'risks to the economy' [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
NASDAQ:AMEX Investor Relations:
tescoplc.com/investors
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Source: Yahoo! Finance
The high street fashion chain said pre-tax profits for the year to end January rose 10.1% to £1.011 billion from £918 million. It joins only Tesco, Marks & Spencer and B&Q owner as British retailers that have measures their profits in ten figures. Chief executive Lord Wolfson sought to paly down the achievement saying: “ To some it may seem an important milestone, even a cause of celebration. We do not share that view, not least because profits can go down as well as up. In fact, we think it would be a big mistake to view the company differently just because it has passed any milestone.” He added: “A colleague, frustrated at the cost constraints they worked within, was heard to say that: “surely, now we are making a billion, the company
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