Brexit preparation and impact analysis published today by the boffins at one of the UK’s largest companies, Next PLC, has concluded that the company would not face any material problems from a no-deal Brexit.

While the £7 billion giant views departure from the EU without a free trade agreement as unlikely and not their “preferred outcome”, Next’s report states that the risks of a no-deal Brexit do not “pose a material threat to the ongoing operations and profitability of NEXT’s business here in the UK or to our £190m turnover business in the EU.”

They conclude that “there would be some additional administrative costs but, in the scheme of the Group, these will be de minimis.” Will Faisal be reporting this one?