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Next offloads customer service business Ventura

Next has sold its third-party customer service business Ventura to support services company Capita for £65m.

Ventura, which operates independently from the retailer, has been a part of the Next group since its inception in 1977.

In the year to January 2011 the customer service business reported turnover of £156m and an operating profit of £8m. Next will continue to use Ventura to manage its own customer services.

Next will use the proceeds from the sale to buy back shares. The retailer had outlined the potential for £160m of share buybacks in its current year beginning January 30, but now anticpates the figure could be as high as £225m.

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