7 Nov 2012

Pre-tax profits down for UK retailer

9:20 am on 7 November 2012

British retailer Marks Spencer has posted pre-tax profits of £290 million for the six months to the end of September, down 9.7% from the same period last year.

Group sales were up 0.9% to £4.7 billion, with much of the growth coming from the food side of the business. Food sales were up 3.4%.

MS said the Queen's Jubilee and the Olympics had little or no effect on sales.

The BBC reports international sales were up 3.6% on a constant currency basis, with strong growth in China and India.

In May, MS reported its first fall in annual profits for three years, with pre-tax profits for the year to the end of March down 16% to £658 million.