Marks and Spencer net profits soar to eight-year peak

0 Comments | AFP, November, 2006

LONDON (AFP) — Marks and Spencer, the British clothing-to-food retailer, rang up the highest first-half net profit for eight years, buoyed by a highly successful advertising campaign. Marks, which trades from more than 450 British stores and 150 other branches worldwide, added that it was "well positioned" for the crucial Christmas shopping period.

Net profit leapt 32 percent to 281.3 million pounds (419.8 million euros, 535.5 million dollars) in the 26 weeks to September 30, 2006, Marks said in an official earnings release on Tuesday. The figure marked the highest interim result since 1998, a group spokesman told AFP, and compared with 210.4 million pounds in the equivalent period of the previous financial year. Group sales climbed 11 percent to 3.929 billion pounds, driven...