Food and clothing retailer Marks & Spencer said annual profits would be ahead of expectations as interim earnings rose above pre-pandemic levels.
The company on Wednesday said full-year profit before tax and adjusting items to be around £500m. Earnings for the six months to October 2 rose 17.9% to £187.3m compared with the same period two years ago.
M&S added that it expected headwinds from Brexit and supply-chain constraints to continue into next year.
Profit before tax and adjusting items of rose 52% on a two-year basis to £269.4m against analyst forecasts of £205m – £264m and versus a loss of £17.4m last year.
