M&S profits top £1bn

Marks & Spencer’s annual profits topped £1bn (€1.3bn) for the first time in a decade today.

The profits of just over £1bn (€1.3bn) for the year to March 29 were 4.3% ahead of last year, but came alongside a 1.7% fall in like for like sales during the final three months of the year – the second successive quarter of sales declines after a disappointing Christmas.