The British retail chain's pre-tax profits hit £407.8m for the six months to October, up 17% on the same period last year, bolstered by sales rising 8.1% for food and 4.7% for clothing and homeware.
However, the M&S chief executive, Stuart Machin, warned that the budget's "long-term impact on the company's customers and suppliers was uncertain". He predicted increases in employer national insurance contributions (NICs) announced by the chancellor, Rachel Reeves, last week would add £60m to costs.
This story is from the November 07, 2024 edition of The Guardian.
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This story is from the November 07, 2024 edition of The Guardian.
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