Next property director sells

Group property director Andrew Varley has reduced his shareholding in fashion retailer Next.

Varley raised nearly £183,000 from the sale of 8,879 shares. That leaves him with 61,008 shares in Next.

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The share disposal was announced just after Next said that it would report its full year figures on 25 March. On 5 January, Next upgraded its forecast full year profit range for the year to January 2010 to £490m-£500m. That includes £7m of additional profit from it being a 53 week period. Earnings per share are expected to be at least 15% higher.

Pre-Christmas trading was better than expected. The consumer environment was more stable than expected and Next believes that its improved product range also helped.

Top Director Buys

Dairy Farm International (Singapore) (DFI) Director name: Mr Ronald J FlotoAmount purchased: 24,300 @ $5.99 Value: $145,521

Sainsbury (J) (SBRY) Director name: Mr Michael Andrew CoupeAmount purchased: 9,327 @ 329.11p Value: £30,696

Baobab Resources (BAO) Director name: Mr Jeremy DowlerAmount purchased: 400,000 @ 7.12p Value: £28,480

Baobab Resources (BAO) Director name: Mr Jeremy DowlerAmount purchased: 150,000 @ 7.25p Value: £10,875

Top Director Sells

Next (NXT) Director name: Mr Andrew John VarleyAmount sold: 6,000 @ 2,059.00p Value: £123,540

Next (NXT) Director name: Mr Andrew John VarleyAmount sold: 2,879 @ 2,057.59p Value: £59,238

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