Next hikes profit guidance for second time, Glencore reports markedly stronger H1 performance

Next raised its profit guidance for a second time in 2026/27 after hotter summer weather and renewed demand in the Middle East and Northern Europe pushed second-quarter full-price sales far above estimates. The UK retailer now expects pre-tax profits of £1,243m, up £25m from its previous outlook, supported by £70m in additional full-price sales in Q2. Meanwhile, commodity-price strength helped Glencore report a markedly stronger first-half performance. Group revenues jumped 49% year-on-year to $174.4bn, while adjusted underlying earnings rose 86% to $10.1bn and funds from operations increased 158% to $8.1bn. In insurance, Beazley’s first-half profits more than halved as the specialty market softened.