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Marks & Spencer full-year profit falls

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Marks & Spencer
Marks & Spencer   The full year dividend is maintained at 18.7 pence

Marks & Spencer Group reported a fall in full-year net profit amid weak clothing and other non-food sales.

The company, one of the most iconic brands on the U.K. high street, posted net profit 117.1 million pounds ($152.2 million) for the year ended April 1, down from GBP406.9 million the previous year, as revenue rose to GBP10.62 billion from GBP10.56 billion.

The full year dividend is maintained at 18.7 pence.

M&S said it plans to reduce space devoting to clothing and home products by about 1% to 2% in the current financial year and grow food space by around 7%.

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