The British retail group Marks & Spencer Group Plc closed the first half of the 2023/24 financial year with strong increases in sales and earnings.
According to an interim report published on Wednesday, group sales in the 26 weeks to September 30th amounted to 6.13 billion British pounds (7.04 billion euros), exceeding the corresponding previous year’s level by 10.8 percent.
In Great Britain, sales in the food business rose by 14.7 percent to 3.80 billion British pounds and in the clothing and household goods division by 5.7 percent to 1.85 billion British pounds. In international business, sales grew by 3.0 percent (currency-adjusted +3.9 percent) to 511.3 million British pounds.
The retailer also made significant progress in terms of earnings. Operating profit reached 315.0 million British pounds in the first half of the year, exceeding the level of the same period last year by 83.7 percent. Adjusted for special effects, it increased by 46.2 percent to 410.4 million British pounds. Reported net profit grew by 24.1 percent to 206.9 million British pounds (237.6 million euros).