The British retail company Marks & Spencer announced a jump in annual profits, but it also warned – as well as its competitors – warning of the outlook for the current quarter, due to the deterioration of living costs.
The 138-year-old clothing and food history, one of the biggest names in British business, reported pre-tax profit of 22 522.9 million ($ 655 million) on an annual basis as of April 2, respectively. analysts estimate and above 41 41.6 million in the 2020-2021 fiscal year.
But for the current fiscal year 2022-2023, M&S warned that it does not expect progress from a profit base that is reduced due to the lack of profits from Russia and the easing of business interest rates.
Source: Capital
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