Marks & Spencer has revealed a better-than-expected surge in annual profits after buoyant sales across its food halls and clothing arm as the group’s turnaround plan pays off. The retail bellwether reported a 58 per cent hike in underlying pre-tax profits to £716.4m for the year to March 30.
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00:00 Hello, my name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
00:06 Here are your headlines for this morning.
00:09 Marks & Spencer has revealed a better than expected increase in annual profits after
00:14 its performance was boosted by buoyant sales across its food halls and clothing arm.
00:21 Marks & Spencer reported a 58% increase in underlying pre-tax profits to £716.4 million
00:29 for the year to March 30th.
00:33 It notched up an 11.3% increase in like-for-like food sales over the year, with a growth of
00:39 5.2% across its clothing and home arm.
00:44 So update this morning from one of the biggest names in business in the UK, Marks & Spencer
00:50 revealing a better than expected surge in annual profits.
00:54 My name's Greg Rice and I'm the Deputy Business Editor of the Yorkshire Post.