Marks & Spencer has posted an uplift in half year sales and profit after it benefited from “robust” trading within its food and clothing businesses.
In the six months to 1 October, statutory pre-tax profit rose to £208.5 million from £187.3 million in the prior year.
However, pre-tax profit before adjusting items came in at £205.5 million compared to £269.4 million in the previous year after the retailer invested in food prices and was hit by higher costs.
Sales within M&S’s food business rose by 3% on a like-for-like basis in the period as it generated particularly strong growth in hospitality and franchise sales compared with last year.
In addition, the retailer’s clothing and home business posted a like-for-like uplift of 13.7%.
Meanwhile, group revenue climbed by 8.5% to £5.5 billion.
M&S said trading in the first four weeks of its second half is in line with forecasts, with clothing and home sales up 4.2% and food sales rising by 3%.
