Menu
06/11/2001
M&S announce surprise rise in profits
Marks & Spencer has announced a surprise rise in profits for the first half of the financial year.
The beleaguered retail store published profit figures of £220 million, a figure much higher than initially predicted on average by industry analysts.
The news builds on an earlier statement by M&S of a rise in sales of 2.8 per cent.
It is thought that the company’s new range of womenswear – its Per Una range – has been responsible for renewing consumer interest in the store, which has undergone extensive restructuring in an attempt to improve its fading fortunes.
M&S Chairman Luc Vandevelde said that the figures demonstrated “good progress” with the recovery plan, and that M&S had plans to upgrade at least 100 of the stores by the end of 2001.
He added: "I am encouraged by the progress we have made and am confident that the strength of the M&S, together with the value and quality of our improved offer, give us a firm base on which to build." (CL)
The beleaguered retail store published profit figures of £220 million, a figure much higher than initially predicted on average by industry analysts.
The news builds on an earlier statement by M&S of a rise in sales of 2.8 per cent.
It is thought that the company’s new range of womenswear – its Per Una range – has been responsible for renewing consumer interest in the store, which has undergone extensive restructuring in an attempt to improve its fading fortunes.
M&S Chairman Luc Vandevelde said that the figures demonstrated “good progress” with the recovery plan, and that M&S had plans to upgrade at least 100 of the stores by the end of 2001.
He added: "I am encouraged by the progress we have made and am confident that the strength of the M&S, together with the value and quality of our improved offer, give us a firm base on which to build." (CL)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
07 August 2001
BASF issue another profits warning
Chemicals giant BASF have issued another profits warning as second quarter results revealed a drop in profits of euro 131 million, down around 15 per cent on the same period in 2000. The interim report noted that in 2001 BASF were expecting a decline in income from operations from ongoing business”.
BASF issue another profits warning
Chemicals giant BASF have issued another profits warning as second quarter results revealed a drop in profits of euro 131 million, down around 15 per cent on the same period in 2000. The interim report noted that in 2001 BASF were expecting a decline in income from operations from ongoing business”.
02 May 2002
Fashion retailer Matalan reports rising profits
Discount fashion company Matalan has reported soaring profits, thanks to a successful programme of store expansion and 1 45% rise in turnover. Pre-tax profits rose by 30% to stand at £107.6 million for the year up to March 2002, with sales activity in its existing stores up by 7.2%.
Fashion retailer Matalan reports rising profits
Discount fashion company Matalan has reported soaring profits, thanks to a successful programme of store expansion and 1 45% rise in turnover. Pre-tax profits rose by 30% to stand at £107.6 million for the year up to March 2002, with sales activity in its existing stores up by 7.2%.
21 May 2002
M&S stage impressive profits recovery
High street retailer Marks & Spencer has unveiled a 30% rise in profits thanks to booming sales of its newly introduced clothing ranges. Pre-tax profits for the year until March 2002 stand at £646.7 million, easily exceeding most analysts' predictions - and the company's results for last year, which amounted to £494.8 million.
M&S stage impressive profits recovery
High street retailer Marks & Spencer has unveiled a 30% rise in profits thanks to booming sales of its newly introduced clothing ranges. Pre-tax profits for the year until March 2002 stand at £646.7 million, easily exceeding most analysts' predictions - and the company's results for last year, which amounted to £494.8 million.
02 November 2001
BSkyB profits rise while subscriptions fall
BSkyB have reported a 23 per cent rise in operating profits for their first quarter, but admit that subscriber numbers are lower than predicted. The company's losses have diminished after operating profits for the three months ended September came in at £45 million.
BSkyB profits rise while subscriptions fall
BSkyB have reported a 23 per cent rise in operating profits for their first quarter, but admit that subscriber numbers are lower than predicted. The company's losses have diminished after operating profits for the three months ended September came in at £45 million.
24 October 2001
Sainsbury continues market turnaround
UK supermarket giant J Sainsbury has revealed further signs of a turnaround after the company revealed it had achieved a sales growth of six per cent between July and mid-October. As well as trade from new stores, sales also grew by 7.6 per cent between July and mid-October. These latest figures represent the third quarter in a row of sales growth.
Sainsbury continues market turnaround
UK supermarket giant J Sainsbury has revealed further signs of a turnaround after the company revealed it had achieved a sales growth of six per cent between July and mid-October. As well as trade from new stores, sales also grew by 7.6 per cent between July and mid-October. These latest figures represent the third quarter in a row of sales growth.
-
Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
