M&S announces level profits

<p>Profits at Marks and Spencer are similar to last year’s figures.</p>

The latest financial data released by Marks and Spencer (M&S) has revealed the high street chain's profits have held firm on last year.

Data revealed by the company today (November 5th) showed its pre-tax profits for the first half of the year came in at £280.6 million.

Despite this, non-food sales dropped by 1.5 per cent, though this loss was cancelled out by the 2.5 per cent growth in food sales over the course of the same period.

Chief executive at M&S Marc Bolland explained that the firm plans to continue to invest in the "long-term transformation" of the business. He said: "We are pleased with the progress made, given the high level of activity and a number of key projects launching this year."

The share price of the company is up in the early stages of this morning's trading on the back of the release of its latest financial results.

At 08:23 GMT, its stocks were trading three per cent higher than at the start of the session.

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