Consumer
M&S Reports Best Financial Health in Decades as Sales Rise
- UK group says performance improved in food and clothing units
- M&S to pay first FY dividend since 2019 as turnaround gains
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Marks & Spencer Group Plc said it’s in the strongest financial health since 1997 as the British retailer’s latest turnaround finally gains ground.
The clothing and homewares group reported better-than-expected pretax profit of £673 million ($857 million) last year and forecast further progress in the current financial year. It will also pay a full-year dividend of 3 pence a share — the first since 2019.