Marks & Spencer got the excellent profit, $753.9 million Annual

Posted by on May 26, 2010 | Leave a Comment

Annual net profit of Marks & Spencer has reached $753.9 million

Marks & Spencer proved, that the crisis can not be an obstacle to The multibrand. Recession is not so dangerous.

Net profit of the British clothing retailer Marks & Spencer for the 2009-2010 fiscal year ended April 3, 2010, reached 526.3 million pounds ($ million 753.9), which is 3.6% higher net profit for the up to 2008-2009 fiscal year. Revenue Marks & Spencer rose by 5,2%, from 9.1 billion pounds to 9.5 billion pounds. In the company’s net profit growth due to the increase in sales in the UK and around the world.

This is partly due to the fact that for the previous financial year, Marks & Spencer launched 34 new stores abroad. Retailer said that against the background of uncertainty over the new budget, which may include tax increases, preferring to make cautious forecasts for the year ahead. Marks & Spencer noted the successful start I quarter, but outlook remains cautious, since consumers are more cautious in their expenditures. In the UK – the world’s largest retailer’s market – growth will slow at least until the announcement of the new draft state budget on June 22.

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