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Next Directory on the up

Internet shopping has driven the Next Directory to a 14 per cent growth in profits, the clothing firm announced yesterday.

The retail trend has led to over 60 per cent of Directory catalogue sales being made online, as opposed to by post.

Moreover, the firm's main Next Retail business grew in profits by just one per cent for the year - and overall profit growth for the company was just four per cent, a disappointing result.

Speaking to the Times, group finance director at the retailer David Keens said: "The economy is becoming increasingly difficult and we can see no reason why there should be any recovery in consumer spending during the year ahead."

He added: "Our customers are particularly being impacted by increases in fuel, energy, taxes and mortgage costs - our sector is going to be tough for the whole of this year."

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