Marks And Spencer Posts HY Profit

Marks and Spencer Group Plc (MAKSY.PK,MAKSF.PK,MKS.L) reported that its profit attributable to owners of the parent for 26 Weeks Ended 2 October 2021 was 160.3 million pounds or 7.9 pence per share compared a loss of 67.4 million pounds or 3.5 pence per share in the previous year.

Profit before tax was 187.3 million pounds compared to a loss of 87.6 million pounds in the prior year.

Adjusted profit before tax was 269.4 million pounds compared to a loss of 17.4 million pounds last year.

Revenue for the period grew to 5.11 billion pounds from 4.09 billion pounds in the previous year.

The company said it continues to have a strong program of capacity growth in Ocado Retail and expects to deliver strong revenue growth in fiscal year 2021/22.

The company expects profit before tax and adjusting items for the year to be ahead of expectations and in the region of 500 million pounds.

The company said it will assess the reintroduction of dividend payments in the context although this remains unlikely in the current year.

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