Marks & Spencer has reported a sharp recovery in profits, with sales climbing 16.2% to £9.3billion as the retailer bounced back from last year's damaging cyber attack.
The high street giant reported adjusted pre-tax profits of £403.2million for the 26 weeks to September 26, more than double the £184.1million recorded during the same period last year.
Statutory pre-tax profits jumped from just £3.4million to £355.1million, reflecting the recovery from the disruption caused by the cyber incident in 2025.
However, adjusted profits remained slightly below the £413.1million recorded two years ago, with the retailer continuing to face rising employment costs, packaging taxes and challenges in its clothing business.
M&S Food was the standout performer, with sales increasing 13.9% to £5.16billion and like-for-like sales rising 11.7%.
Food volumes grew 11.9%, while the business attracted 1.5 million additional customers over the past two years, strengthening its position as one of Britain's fastest-growing grocers.
Operating profits in the division reached £288.6million, compared with £89.1million last year.
The Fashion, Home & Beauty business also recovered, with sales rising 17.5% to almost £2billion and operating profits increasing from £46.1million to £150.5million.
Stuart Machin, Chief Executive of M&S, said: "We hit the ground running in the first half of the year, accelerating the pace of change and delivering market share growth in both businesses.
"Our hard work over the last few years to create a strong balance sheet has built a firm financial footing from which to invest and we are confident in the opportunities ahead. Despite the onslaught of cost headwinds, we have remained focused on our ambitions, and we are clear on our plan."
M&S also expects to deliver more than £120million in structural cost savings over the full financial year.
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Companies reporting
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- Coca-Cola HBC - Q3 Trading Statement
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- Lion Finance - Q3 Results
- Marks and Spencer - Half Year Results
- Novo Nordisk - Q3 Results
- Prudential - Q3 Business Performance Statement
- Smith & Nephew - Q3 Trading Statement
- Trainline - Half Year Results
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