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Marks and Spencer sales increased 1.4%

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Staff writer |
Marks and Spencer
Marks and Spencer Group   32 new Simply Food stores were opened

Marks and Spencer Group reported half year results for the period ended September 26, 2015. Sales were up 1.4% to £5bn and underlying profit before tax up 6.1% to £284m.

Underlying earnings per share were up 4.9% to 14.1p. Sales increased 3.3%; LFL +0.2%, there were 32 new Simply Food stores opened, with performance ahead of expectations.

Marc Bolland, chief executive, said: “We delivered good underlying profit growth in the first half and made strong progress against our key priorities. Our Food business again outperformed the market by over 3% points as our focus on quality and innovation continues to set us apart.

“In General Merchandise we decided to improve profitability by focusing on gross margin, delivering another significant increase, which in part resulted in slightly lower sales. As a consequence of good performance and strong cash generation we have decided to increase our dividend.”

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