Marks and Spencer Profit Rebounds on Food Sales
Marks and Spencer reported a rebound in first half profit as strong food sales offset weakness in its clothing division. The British retailer posted an adjusted pre-tax profit of 403.2 million pounds for the six months to September.
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MARKS & SPENCER GROUP PLC posted an adjusted profit before tax of £403.2 million ($542.4 million) in the six months to September 26, more than doubling from the previous year's cyberattack-hit level. The recovery surpassed the £399 million average analyst forecast, driven by strong food sales across the United Kingdom. Total sales rose 16.2% to £9.26 billion during the period.
