Surprise profits boost for M&S

Marks & Spencer boss Stuart Rose drew encouragement from recent trading today after the chain posted an unexpected rise in half-year profits.

Mr Rose announced profits of £298.3m (€333.53m) for the six months to September 26, ahead of City forecasts and slightly stronger than a year earlier.

He added that the third quarter of the financial year had got off to a good start, although he warned that trading conditions remained competitive.

Marks has also revealed plans to sell around 400 branded products from firms such as Kellogg's, Coca-Cola and Marmite across its UK store network.

The chain is rolling out the sale of branded household goods and groceries after a successful trial in stores in the North East and South East of England.

M&S said it could “simply never compete” with certain popular brands and was introducing them to its shops for the convenience of customers.

No M&S products are to be dropped as a result of the move, which will focus on lines where the retailer would have a lower share of the market such as soft drinks, beer, laundry and confectionery.

The British supermarket operates 20 stores in Ireland employing around 3,000 people.