Revived M&S rings up £965 profit

The recovery of Marks & Spencer was cemented today as the high street giant banked a 28.5% rise in annual profits.

M&S posted pre-tax profits of £965.2m (€1.4bn), up from the £751.4m (€1.1bn) in the previous year, and close to the £1bn(€1.47bn) seen in 1998.