Marks and Spencer profits rise

High street giant Marks & Spencer put a difficult summer behind it today as it posted a 7.4% rise in first half profits.

The chain, which in common with rivals saw summer sales wilt as sizzling temperatures put shoppers off the high street, said it was now gearing up for the Christmas rush, beefing up its gift catalogue and extending its party clothing range.

The group saw underlying profits rise to £311.5m (€455m) in the six months to September 27 from £290.1m (€424m) a year ago – in line with City expectations.

Chairman Luc Vandevelde described the period as “challenging” but said: “We have held market share in clothing, grown market share in food, and achieved buying efficiency gains.”