M&S reports solid trade in Ireland

MARKS and Spencer has seen a solid improvement in trading at its Irish stores since the last budget, an indication, it said, that consumers want more confidence about where they stand financially.

The supermarket said that despite the improvement in trading conditions, Ireland and Greece were “heavily impacted by the economic downturn”.

According to its final year results, international sales grew 5.7%, accounting for 10.2% of total group revenues. Operating profits were up 16.5% to £135.3m (€158m). M&S opened 34 new stores in the year to the end of March and now has 327 stores in 41 territories.