Profits at M&S halved in wake of cyberattack

M&S said the cost of the attack is set to total around £136m

Marks and Spencer's profits have more than halved after it took a hit from a major cyberattack earlier this year that saw online home and fashion sales plunge more than 40% when it was forced to halt website orders.

Marks and Spencer's profits have more than halved after it took a hit from a major cyberattack earlier this year that saw online home and fashion sales plunge more than 40% when it was forced to halt website orders.

The retail giant reported its underlying pre-tax profits tumbled 55.4% to £184.1m (€208m) in the six months to September 27. On a reported basis, profits were almost wiped out, plunging to £3.4m from £391.9m (€444m) a year ago.