M&S reports higher half-year profit as recovery continues

Business · First reported 4 Nov, 07:51 · Updated 08:28

Image: Wikimedia Commons · NASA Johnson Space Center · Public domain

Marks & Spencer reported adjusted pre-tax profit of £403.2 million for the 26 weeks to September 26, up from £184.1 million a year earlier. The company said food sales grew strongly, while its fashion, home and beauty business continued to feel the effects of the cyber incident and other pressures.

Adjusted pre-tax profit rose to £403.2 million from £184.1 million for the half-year to September 26.
M&S sales increased 16.2% to £9.25 billion; food sales rose 13.9%, while fashion, home and beauty sales were up 17.5% year on year.
The company said its results were affected by the cyber incident’s continuing impact, summer weather and £35 million in costs including packaging taxes, pay and national insurance increases, and Middle East disruption.

Summary written by Lux AI from 2 articles

Key facts

Half-year period: 26 weeks to September 26
Adjusted pre-tax profit: £403.2 million, compared with £184.1 million a year earlier
Total sales: £9.25 billion, up 16.2%
Food sales: Up 13.9%
Fashion, home and beauty sales: Up 17.5% year on year
Reported costs: Around £35 million