LONDON (dpa-AFX) - Retail major Marks and Spencer Group Plc or M&S (MAKSY.PK, MAKSF.PK, MKS.L) reported Wednesday lower profit in fiscal 2026, despite significantly higher revenues mainly driven by the consolidation of Ocado Retail Limited. The firm also lifted dividend.
Looking ahead, the company said it enters 2026/27 with a clear plan, and expects profit growth to resume versus 2024/25.
In the full year, profit before tax fell 28.8 percent to 364.6 million pounds from 511.8 million pounds last year. Basic earnings per share were 12.7 pence, down 13 percent from last year's 14.6 pence.
Adjusted profit before tax was 671.4 million pounds, compared to 881.1 million pounds a year ago. Adjusted basic earnings per share were 23.8 pence, compared to 31.9 pence a year ago.
Revenue, however, climbed 25 percent to 17.27 billion pounds from last year's 13.82 billion pounds,.
Sales grew 24.8 percent from last year to 17.37 billion pounds. Sales excluding Ocado Retail grew 1.9 percent to 14.18 billion pounds.
Further, the firm said its Board is proposing a final dividend of 3.0p per share, payable on July 10. The total full-year dividend would be 4.2p per share, an increase of 16.7 percent on last year.
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