Interim Results

NEXT PLC
15 September 1999


            RESULTS FOR THE HALF YEAR TO JULY 1999
                               
*    Turnover up 18% to £632.6m

*    Profit before tax up 36% to £68.4m

*    Annual post tax return on capital employed of  25%

*    Interim dividend increased to 7p


Sir Brian Pitman, Chairman, said

'NEXT  has delivered excellent results for the first  half  of
1999.   In terms of both growth and return, this was a  strong
recovery.  Turnover was up by 18%, earnings per share rose 35%
and  the annual post tax return on capital was 25%.  This  has
enabled the Board to increase the interim dividend by 7.7%  to
7p.   We  expect further progress in the second  half  of  the
year.'
                               
                                                              
Chairman's Statement

NEXT  has  delivered excellent results for the first  half  of
1999.   In terms of both growth and return, this was a  strong
recovery.  Turnover was up by 18%, earnings per share rose 35%
and  the annual post tax return on capital was 25%.  This  has
enabled the Board to increase the interim dividend by 7.7%  to
7p.   We  expect further progress in the second  half  of  the
year.

Sir Brian Pitman
Chairman


Chief Executive's Review

In  the  six months to July 1999 NEXT achieved a profit before
tax  of  £68.4m compared with £50.2m the previous  year.   The
turnover and profit from each of our divisions was as follows:

                             Turnover        Profit before Tax
                        Six months to July  Six months to July
                           1999    1998        1999    1998
                             £m      £m          £m      £m

NEXT Retail                423.0   341.1        39.4    25.0
NEXT Directory             127.8   126.1        12.4    10.1
NEXT Overseas (continuing)   6.8     8.2         1.3     1.0
NEXT Overseas (discontinued) -       2.8         -      (1.3)
Ventura                     62.5    48.8         5.7     5.4
Other Activities            12.5     9.2         5.7     4.4
                         _______ _______     _______ _______
                           632.6   536.2        64.5    44.6
                         _______ _______
Interest Income                                  3.9     5.6
                                             _______ _______
Profit before Tax                               68.4    50.2
                                             _______ _______

The NEXT Brand
The  performance  of the NEXT Brand showed a  strong  recovery
from  the difficulties experienced in the first half of  1998.
Total  sales  were  18%  higher than the  previous  year,  and
operating profit was 48% higher.

Sales  in  NEXT  Retail  increased by 24%  compared  with  the
previous year.  This increase includes a 27% increase in  full
price sales, whereas sales during the July end of season  Sale
were  only 2% higher than the previous year because there  was
no  increase  in the total surplus stock for sale  at  reduced
prices.   Operating profit increased to £39.4m  compared  with
£25m the previous year.

During the six months we opened new stores in Bluewater  Park,
Glasgow  Buchanan  Galleries,  Kirkcaldy  and  Bridgend,   and
resited  to larger stores in Durham, Staines and Telford.   At
the  end  of July 1999 we had 331 stores with a total  selling
space  of  1,397,000 square feet compared with 324 stores  and
1,263,000 square feet the previous year, an increase of 11%.

In  the  second half of 1999 we expect to increase our  retail
selling  space by 73,000 square feet, making total  new  space
for  the  current year of 120,000 square feet, an increase  of
9%.

Sales  in  NEXT Directory were 1.3% higher than  the  previous
year - this includes a full price sales increase of 1.8%,  and
an 18% reduction in the July end of season Sale because of the
lower  surplus stock in Directory compared with  the  previous
year.

We stated in the 1998/9 Annual Report our expectation that the
home  shopping  market would continue to be  difficult  during
1999 and this has proved to be the case.  The competition  for
new customers is very fierce, and we believe that our strategy
of  reducing the overall marketing spend and concentrating  on
continuing  to  improve our service to existing  customers  is
proving  correct.  Operating profit increased to  £12.4m  from
£10.1m.

We will continue with this approach for the Autumn/Winter 1999
season,  and  therefore do not expect to show any  significant
change in the number of active customers for the current year.

Construction  of the two new warehouses in South Yorkshire  is
complete.   NEXT Directory is now being handled entirely  from
the  new  warehouses.   The transfer  of  NEXT  Retail  is  in
progress  and  will  be completed for the  Spring/Summer  2000
season.

NEXT Overseas
During the six months to July, four of our franchise stores in
the  Far  East  that  had  been underperforming  were  closed.
Whilst  sales  were lower than the previous year, improvements
in  our  method  of operating franchise stores resulted  in  a
profit of £1.3m compared with £1.0m the previous year.

Ventura
Profits  for the half year were £5.7m compared with £5.4m  the
previous year.  The Customer Service Centre which we opened in
November  1998 enabled us to expand the services  provided  to
our  clients, and turnover in the period rose by 28%.  We have
sufficient  capacity  to  meet the  requirements  of  new  and
established clients through to February 2000, when the  second
new  call  centre  will  be opened.   Our  contract  with  the
Kingfisher  group,  for  the  provision  of  customer  service
management  to  its retail customers, has been renewed  for  a
further five years.

Chief Executive's Review continued

The  consumer credit balances due from our customers  at  July
1999 were £127m, compared with £120m at the start of the year.
The management of all funded credit is being consolidated into
Clydesdale  Financial  Services,  our  subsidiary   based   in
Glasgow.   This  will  allow  us to concentrate  all  customer
service  management  activity  at  our  two  major  sites   in
Yorkshire.

Other Activities
Profits  for the half year were £5.7m compared with £4.4m  the
previous  year.   The main contributor to the improvement  was
NEXT  Asia,  our product sourcing company based in Hong  Kong,
which benefited from the improvement in NEXT Brand sales.

Cash Flow
At  the  end  of  July  we had net cash balances  of  £51m,  a
reduction  of £10m from January 1999.  During the six  months,
capital  expenditure amounted to £43m which comprised £11m  on
warehouse  development, £11m on Retail stores, £9m  on  a  new
till  system  and  £12m  on information technology  and  other
assets.   We  plan to invest a further £35m in capital  assets
during  the  second half of the year.  In July the  NEXT  ESOP
Trust purchased one million NEXT plc shares, at a cost of £7m,
with finance provided by the company.

Dividend
Last  year  we increased the dividend paid to shareholders  by
6%,  despite  a reduction in earnings per share of  8%.   This
year's  strong  recovery  in  first  half  profits  gives   us
confidence  to continue the increase in dividend payments  and
the Directors are pleased to declare an interim dividend of 7p
(last  year  6.5p).  This will be paid on 5  January  2000  to
shareholders on the register at 10 December 1999.

Year 2000
In  our Directors' Report in March we set out our strategy for
dealing with the Year 2000 issue.  Since then, the process and
achievements  have been in accordance with  our  plans.   User
acceptance   testing  of  systems  and  processes   has   been
substantially  completed and risk management  procedures  have
been  put in place.  These include the early closure of Retail
and  Directory operations on 31 December, allowing  additional
time  for end of day routines and, therefore, the minimisation
of  systems which will actually be running live at midnight on
that  date.   On  the Millennium weekend,  when  many  of  our
operations will be closed, live running of systems  will  take
place  throughout  the  Group.  We  remain  reliant  on  third
parties  to  ensure their own systems are Year 2000  compliant
and  continue  to work closely with suppliers where  there  is
significant  IT  dependence.  Where we have not  yet  received
sufficient  assurance  we have sought  alternative  suppliers.
Therefore,  we  are  well positioned to  ensure  our  business
critical processes will continue to function in the year  2000
and beyond.

Current Trading
In  the first six weeks of the Autumn/Winter season, sales  in
NEXT  Retail  are 15% ahead of the previous year from  trading
space  which  is 11% higher.  Sales in NEXT Directory  are  4%
ahead of last year.

Taken together, sales for the NEXT Brand are 12% ahead of last
year.

David Jones
Chief Executive                              15 September 1999


Unaudited Statement of Group Results
for the six months ended July 1999

                              Six months Six months       Year
                                 to July    to July     to Jan
                                    1999       1998       1999

                                      £m         £m         £m

Turnover                           632.6       536.2    1,239.1
                                 _______     _______    _______

Operating Profit                    64.5        44.6      157.9
Net interest receivable              3.9         5.6        9.0
                                 _______     _______    _______
Profit    before   taxation         68.4        50.2      166.9
Taxation                           (19.1)      (13.6)     (43.0)
                                 _______     _______    _______
Profit    after   taxation          49.3        36.6      123.9
Dividends                          (25.6)      (23.2)     (69.1)
                                 _______     _______    _______
Profit for the period  
transferred   to   reserves         23.7        13.4       54.8


Earnings per share          p       13.5        10.0       33.9

Diluted earnings per share  p       13.3         9.9       33.6

Dividend per share          p        7.0         6.5       19.1

Shareholders' funds        £m      566.7       503.0      542.8


The  accounts  for  the  year to January  1999  are  not  full
accounts  within the meaning of Section 240 of  the  Companies
Act  1985.   Full  accounts for that period  incorporating  an
unqualified audit report have been delivered to the  Registrar
of Companies.

Accounting policies adopted are consistent with those set  out
in the accounts for the year ended January 1999.  Earnings Per
Share  has  been calculated in accordance with the  accounting
standard,  FRS14 Earnings Per Share which was  effective  from
December 1998.  Comparative figures for the six months to July
1998 have been restated as necessary.

Registered in England 35161.  Registered Office, Desford Road,
Enderby, Leicester  LE9 5AT


Balance Sheet
                            July 1999    Jan 1999   July 1998
                                   £m          £m          £m

Fixed assets
   Tangible assets                298         275         237
   Investments                      3           2           2
   Investment in own shares        38          37          32
                              _______     _______     _______
                                  339         314         271
Net current assets
   Property development stocks      9           9          16
   Stocks                         142         142         134
   Debtors                        330         324         301
   Creditors (less than
   one year)                     (284)       (290)       (249)
   Cash and deposits
   less borrowings                 51          61          44
                              _______     _______     _______
Total assets less current
liabilities                       587         560         517
   Creditors (more than
   one year)                      (13)        (10)         (7)
   Provision for liabilities 
   and charges                     (7)         (7)         (7)
                              _______     _______     _______
Net assets                        567         543         503
                              _______     _______     _______

Cash Flow
for the six months ended July 1999
                                       Six months  Six months
                                    to  July 1999 to July 1998
                                               £m          £m

Profit before taxation                         68          50
Depreciation and disposals                     20          14
Capital expenditure                           (43)        (61)
Stocks                                          -         (18)
Debtors                                        (6)         (4)
Creditors                                       5           3
Dividends                                     (46)        (44)
Taxation                                       (6)        (18)
Investment in own shares                       (2)        (31)
VAT repaid                                      -          11
                                          _______     _______
Net cash outflow                              (10)        (98)
                                          _______     _______