M&S profits rise to £451m

Retailing giant Marks & Spencer posted better-than-expected profits today but warned of an “uncertain” economic outlook.

The company shrugged off the impact of the poor summer weather and a major store refurbishment programme to post underlying pre-tax profits of £451.8m (€649m) for the half-year to September 29, 11.5% ahead of last year and ahead of consensus City forecasts.