M&S reports strong H1 FY24/25 results as profits rise 17% [Yahoo! Finance]
MARKS & SPENCER GRP S/ADR (MAKSY)
NASDAQ:AMEX Investor Relations:
markspizzeria.com
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Source: Yahoo! Finance
Profit before tax (PBT) and adjusting items rose 17.2% to £407.8m, up from £348.1m in 2023. The company's operating profit before adjusting items also saw a rise, reaching £462.7m compared to £410.4m in the same period in 2023. Basic earnings per share were up from 10.6p in the first half of 2023 to 14.0p in the same period in 2024. Overall, group sales increased by 5.8% to £6.52bn. Food sales saw an 8.1% increase, with like-for-like (LFL) growth of 7.5%, largely driven by a 6.5% rise in UK volume. Clothing and home sales grew by 4.7%, with LFL sales rising by 5.3%. Sales growth in the second quarter (8.1%) was stronger than in the first quarter (1.3%), benefiting from more seasonal warmer weather. Throughout the first half of the year, cost inflation remained high, outpacing price inflation, and consumer confidence has been unpredictable. But despite these challenges, the business has performed well, gaining both volume and value market share. Shares in the group were up
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