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Marks & Spencer profit declines, special dividend announced

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Marks & Spencer
Marks & Spencer   Profit to owners of parent decreased to 406.9 million pounds

Marks & Spencer Group reported profit before tax of 488.8 million pounds for the 53 weeks ended April 2, 2016 compared to 600 million pounds for the 52 weeks ended March 28, 2015.


Profit to owners of parent decreased to 406.9 million pounds from 486.5 million pounds, a year ago. Earnings per share was 24.8 pence compared to 29.5 pence.

Underlying profit before tax was 689.6 million pounds for the 53 weeks to 2 April 16, up 4.3% on prior year. Underlying earnings per share was 34.9 pence compared to 32.9 pence. On a 52 week-basis, underlying basic earnings per share was 34.8 pence for the period to 26 March 2016, an increase of 5.1% on last year.

Revenue increased to 10.55 billion pounds from 10.31 billion pounds, previous year. On a 52 week-basis, Group revenue was 10.4 billion pounds for period to 26 March 2016, up 0.8% from prior year.

The Board of Marks & Spencer has proposed a 2.6% increase in the final dividend to 11.9 pence. This will result in a total dividend of 18.7 pence, up 3.9% on last year.

The board also announced a special dividend amounting to 4.6 pence per share for the first half of the 2016/17 financial year. Both the final and the special dividend will be paid on 15 July 2016 to shareholders on the register of members as at close of business on 3 June 2016.


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