Marks and Spencer Group PLC

Latest Results (14.11.2025):

Marks and Spencer Group PLC’s financial results for the 52 weeks ended 30 March 2024 show a strong performance with significant increases across key profit metrics. The company reported a profit before tax and adjusting items of £716.4m (up from £453.3m) and a statutory profit before tax of £672.5m, supported by strong growth in both its Food and Clothing & Home segments. The results reflect enhanced operational efficiency, improved margins, and positive momentum from strategic initiatives aimed at reshaping the business for future growth.

Robust Profit Growth

The group’s profit before tax and adjusting items increased by 58.0% to £716.4m, while statutory profit before tax rose by 41.4% to £672.5m, underscoring a significant turnaround compared to the previous period. Adjusted basic earnings per share surged by 45.6% to 24.6p from 16.9p.

Segmental Performance

In Food, sales were up by 13.0% with an adjusted operating profit of £395.3m and a margin of 4.8%, reflecting market-leading volume growth and strong innovation. Meanwhile, Clothing & Home sales increased by 5.3%, delivering an adjusted operating profit of £402.8m at a margin of 10.3%. These gains highlight the company’s effective strategy in capitalizing on customer demand and improving operational performance.

Improved Cash Flow and Balance Sheet

Marks and Spencer Group PLC reported an increase in free cash flow from operations to £413.7m, alongside a reduction in net debt from £2.64bn to £2.17bn, positioning the company to invest in high-return projects and sustain its dividend policy. The improved balance sheet reflects disciplined capital allocation and ongoing structural cost savings.

Strategic Initiatives and Future Outlook

Key transformative efforts, including store rotation, supply chain modernization, and digital enhancements, are beginning to deliver results. The performance improvements in both the Food and Clothing & Home segments, as well as the encouraging early returns from strategic partnerships like the Ocado Retail JV, point to a positive outlook and a clear roadmap for future sustainable growth.